Oil jumps as US plans blockade of Iranian ports in Hormuz Strait

Oil prices surged after the US military said it would blockade Iranian ports in the Strait of Hormuz, with Brent crude around $102/barrel and WTI about $104, as markets anticipate tighter global supply. CENTCOM said the blockade would not impede non‑Iranian traffic, while Iran warned of retaliation. Analysts caution the move could heighten tensions and further tighten oil markets, given Iran’s roughly 4% share of world supply and recent export levels, and global stocks moved lower on the news.