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Oil back above $100 as US to blockade Iranian ports after peace talks fail

 Published: 10:57, 13 April 2026

Oil back above $100 as US to blockade Iranian ports after peace talks fail

Oil prices rose back above $100 a barrel as energy markets reopened in Asia on Monday after talks between the US and Iran ended without a new deal and President Donald Trump said he would blockade Iranian ports.

Global benchmark Brent crude was up by 7.3% at $102.30 (£76.32), while West Texas Intermediate was 8.7% higher at $104.94.

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