U.S. blockade of Iranian ports lifts Brent above $100

U.S. Central Command began enforcing a maritime blockade on April 13 that bars all vessels to and from Iranian ports. The announcement pushed Brent crude futures up 7.9%, moving the benchmark back above $100 per barrel.

The blockade covers the Arabian Gulf and the Gulf of Oman and applies regardless of a ship’s flag or ownership. It took effect immediately and has no confirmed end date. The Strait of Hormuz remains open, preserving roughly 20% of global oil flows while restricting direct port access for Iran.

The restriction tightened regional supply and contributed to higher insurance premiums for vessels operating in Gulf waters. Traders increased buying in futures markets, citing elevated headline risk and the potential for further disruptions.

Brent moved through the short-term resistance zone around $103–$105 during the session. The contract had declined after a mid-March spike to $115–$116. Market observers identify $108–$110 as the next resistance area and $113–$116 as a major ceiling.

On the downside, $93–$96 is the nearest support that has held repeatedly, with $78–$80 representing the pre-spike baseline.

Short-term technical indicators turned positive on lower timeframes: the four-hour MACD crossed into bullish territory and the RSI recovered from near-oversold levels. Daily indicators remain mixed: the daily MACD is still below zero and the price chart has printed lower highs since the March peak.

Iranian officials signaled possible retaliation. Iran’s parliament speaker warned traders, “enjoy the current pump figures.” No specific retaliatory actions or timelines have been announced by Tehran.

Insurers raised premiums on Gulf shipping routes, increasing the cost of transporting crude and refined products. Market participants are monitoring headlines, prices and daily momentum indicators for signs of escalation or de-escalation.