As oil prices plunge below $91 after weeks, a new Hormuz crisis emerges
Brent crude falls over 9 percent after Iran said it will reopen waterway, only to shut it again over US blockade.
![A woman holds a poster depicting Iran’s new Supreme Leader Mojtaba Khamenei during an anti-U.S. and anti-Israeli rally, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran on March 26, 2026. [Majid Asgaripour/West Asia News Agency via Reuters]](https://www.aljazeera.com/wp-content/uploads/2026/04/image-1776461073.jpg?resize=770%2C513&quality=80)
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How US blockade on Iran will worsen energy crisis
With the US military blockade of Iranian ports now in force, global energy markets are already reacting.
Published On 14 Apr 2026
EXPLAINER
How much will US Hormuz blockade hurt Iran, and does Tehran have an escape?
Iran earned $5bn in oil exports in past month while it shut the strait for most other ships. That revenue is at risk.
Asia’s stock markets surge, oil falls on hopes for US-Iran talks
Relief for global markets comes after Trump says Iranian officials are keen on a deal.
Energy prices rise despite Jones Act suspension by Trump
Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran.
What do we know about sea mines in and around the Strait of Hormuz?
The psychological terror that the presence of sea mines can generate could paralyse the Strait of Hormuz.
US blockade of Iran would worsen global energy crisis, analysts say
While US military says it will blockade Iranian ports only, move would have ripples worldwide, according to analysts.
EXPLAINER
Why oil prices aren’t what you think – and what it means for global supply
Growing gap between physical and on-paper oil prices points to more serious energy shock than appreciated, analysts say.
Oil prices surge past $103 a barrel after US announces blockade of Iran
Asian stocks fall as naval blockade threat injects new turmoil into financial markets.
‘Blown to hell’: Trump orders Hormuz blockade after US-Iran peace talks end
US Navy to enforce blockade, Trump says after condemning Iran for blocking waterway, complaining of no deal in Pakistan.
Saudi Arabia says key oil pipeline back to full capacity after attacks
The Ministry of Energy says the East-West pipeline is back to pumping about 7 million barrels per day.
