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Oil Prices Rise After Iran Restricts Access to Strait of Hormuz and Ceasefire Nears Expiration

Iran says it will keep limiting traffic until the U.S. blockade ends, as mediators seek new talks before the ceasefire expires.

  • On Saturday, Iranian Revolutionary Guard gunboats fired on a tanker and hit a container vessel near the Strait of Hormuz, forcing two India-flagged ships to retreat mid-transit.
  • President Donald Trump stated the U.S. blockade of Iranian ports will "remain in full force" until Tehran reaches a deal, prompting Iran to continue enforcing restrictions on vessels attempting passage.
  • India's Foreign Ministry summoned the Iranian ambassador over the "serious incident" of firing on merchant ships, while Iran's Supreme National Security Council vowed to maintain oversight of the strait.
  • Hostilities threaten to deepen the global energy crisis as the war enters its eighth week, with the fragile ceasefire between the United States and Iran set to expire by Wednesday.
  • Pakistan is expected to host a second round of negotiations early next week as mediators work to bridge differences and discuss new proposals from the United States.
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+8 Reposted by 8 other sources
Lean Left

Oil prices rise after Iran restricts access to Strait of Hormuz and ceasefire nears expiration

Oil prices climbed Sunday after Iran once again blocked the passage of most ships through the Strait of Hormuz, a key waterway for one-fifth of the world’s crude.

·Atlanta, United States
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EDPEDP
+2 Reposted by 2 other sources
Center

Iran doubles down on closing Strait of Hormuz as ceasefire nears expiration

The fragile ceasefire in place between the US and Iran is due to run out by Wednesday.

·Norwich, United Kingdom
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Aydınlık broke the news in Türkiye on Saturday, April 18, 2026.
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