Crude Oil Rallies as US Blockade of Strait of Hormuz Begins

Written on 04/13/2026
Rich Asplund

May WTI crude oil (CLK26 ) on Monday closed up +2.51 (+2.60%), and May RBOB gasoline (RBK26 ) closed up +0.0787 (+2.59%). Crude oil and gasoline prices settled sharply higher on Monday after peace talks between the US and Iran broke down over the weekend and President Trump imposed a...Strait of Hormuz by artemegorovv via Shutterstock
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