MarketsApr 13, 2026
Oil Hits $100 Per Barrel as US Prepares Hormuz Blockade —Asia Markets Decline, Shipping Stalled
Oil breaches $100/barrel as US prepares Hormuz blockade. Asia markets decline; most shipping stalled despite ceasefire talks. Strait of Hormuz handles one-fifth of global oil supply. Shipping insurance costs surge; vessels diverted add 2-3 weeks to voyage times.