Oil prices jump as Trump reinstates Iranian ship blockade

Photo by Jan Zakelj Oil prices jump as Trump reinstates Iranian ship blockade Crude oil all time high predictions Share Add us on Google by Estefano Gomez Jul. 13, 2026 Oil prices surged following former President Donald Trump’s announcement that he will reinstate a blockade on Iranian ships and impose a 20% security fee on cargo transiting the Strait of Hormuz. The decision has led to a sharp increase in oil prices, with West Texas Intermediate (WTI) futures climbing to approximately $75 per barrel, and Brent crude surpassing $80 per barrel.

This escalation in geopolitical tension reverses a recent downward trend in oil prices, which had seen a temporary decline due to a ceasefire that facilitated the resumption of oil flows through the strait, a crucial chokepoint for global oil supply. Advertisement The move by Trump suggests heightened risks to oil supply, potentially impacting global markets as the Strait of Hormuz handles a significant portion of the world’s seaborne crude. In response, prediction markets have adjusted to reflect increased probabilities of crude oil reaching new all-time highs by year’s end.

Currently, the probability of crude oil hitting a new high by September 30 stands at 6.6%, while markets suggest a 14.5% probability by December 31.

Key Takeaways Trump’s reinstatement of the blockade appears to have prompted a significant rise in oil prices, suggesting increased supply disruption risks. Markets have responded by adjusting odds, with the likelihood of crude oil reaching new all-time highs by December 31 increasing to 14.5%.

The Strait of Hormuz, a critical oil transit route, remains a focal point for potential further volatility in oil markets. What to Watch Market participants will be closely monitoring any further geopolitical developments in the Middle East that could affect oil supply and pricing. Key indicators include potential diplomatic actions from the U.

S. and Iran, OPEC’s response to the evolving situation, and any changes in global oil demand forecasts. A resolution to the blockade or further escalation in tensions could significantly impact market pricing and crude oil futures.

Get live prediction-market analysis, powered by Vera. Sign up for Vera. Disclosure: This article was edited by Estefano Gomez.

For more information on how we create and review content, see our Editorial Policy. MACRO Oil prices jump as Trump reinstates Iranian ship blockade Crude oil all time high predictions by Estefano Gomez Jul. 13, 2026 Share Add us on Google Photo by Jan Zakelj Oil prices surged following former President Donald Trump’s announcement that he will reinstate a blockade on Iranian ships and impose a 20% security fee on cargo transiting the Strait of Hormuz.

The decision has led to a sharp increase in oil prices, with West Texas Intermediate (WTI) futures climbing to approximately $75 per barrel, and Brent crude surpassing $80 per barrel. This escalation in geopolitical tension reverses a recent downward trend in oil prices, which had seen a temporary decline due to a ceasefire that facilitated the resumption of oil flows through the strait, a crucial chokepoint for global oil supply. Advertisement The move by Trump suggests heightened risks to oil supply, potentially impacting global markets as the Strait of Hormuz handles a significant portion of the world’s seaborne crude.

In response, prediction markets have adjusted to reflect increased probabilities of crude oil reaching new all-time highs by year’s end. Currently, the probability of crude oil hitting a new high by September 30 stands at 6.6%, while markets suggest a 14.

5% probability by December 31. Key Takeaways Trump’s reinstatement of the blockade appears to have prompted a significant rise in oil prices, suggesting increased supply disruption risks. Markets have responded by adjusting odds, with the likelihood of crude oil reaching new all-time highs by December 31 increasing to 14.

5%. The Strait of Hormuz, a critical oil transit route, remains a focal point for potential further volatility in oil markets. What to Watch Market participants will be closely monitoring any further geopolitical developments in the Middle East that could affect oil supply and pricing.

Key indicators include potential diplomatic actions from the U.S. and Iran, OPEC’s response to the evolving situation, and any changes in global oil demand forecasts.

A resolution to the blockade or further escalation in tensions could significantly impact market pricing and crude oil futures. Get live prediction-market analysis, powered by Vera. Sign up for Vera.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.