look news india
April 13, 2026: There is a big stir in the global energy market today after the failure of peace talks between America and Iran. Crude oil prices are skyrocketing after US President Donald Trump announced a naval blockade of Iran’s ports.
Oil prices rise in early Asian trading more than 8% A surge of Rs. 100 per barrel was observed, due to which both Brent crude and WTI crossed the psychologically important level of $100 per barrel.
Latest status of major oil prices (April 13 morning)
| crude oil | Current price (per barrel) | bounce (%) |
|---|---|---|
| WTI Crude (US) | $104.24 – $105.29 | ~8-9.3% |
| Brent Crude (International) | $102.29 – $103.37 | ~7-8% |
Why is the oil market blazing?
Failure of peace talks: The marathon talks (US-Iran Peace Talks) that have been going on for the last three days in Pakistan’s capital Islamabad ended without any agreement on Sunday.
American blockade decree: After the talks failed, President Trump Strait of Hormuz and ordered a blockade of Iranian ports. According to the US Central Command (CENTCOM), this blockade will come into effect from today (Monday) at 14:00 GMT (7:30 pm Indian time).
Iran’s counter warning: Iran’s Revolutionary Guards have said they have full control over Hormuz and that any military intervention would be met with a “powerful response”.
Hormuz: Threat to the world’s ‘energy vein’
around the world 20% crude oil and LNG Passes through the Strait of Hormuz.
Saudi, Iraq and Kuwait Like countries depend on this narrow route for their exports.
Although CENTCOM has clarified that the blockade will only apply to ships sailing to or from Iranian ports, the tense situation has caused marine insurance premiums to increase by as much as 50%.
Impact on India and global economy
Danger of inflation: India imports 85% of its oil needs. A price of $100+ in crude oil may again increase the prices of petrol and diesel domestically.
stock market crash: Due to global tensions, a decline has also been seen in Asian stock markets and American futures (Dow Futures) this morning.
Supply Chain: The prices of diesel and jet fuel have also increased due to the war, which will put direct pressure on the transportation and aviation sectors.
Experts’ Opinion: The IEA has described it as “the greatest challenge to global energy security in history”. If this blockade continues for a long time, analysts believe that oil prices will $120 Can even cross the level of.