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At Close: Jun 04, 2026

Oil Prices Rise as US Starts Blockade of Iran

02:55pm, Monday, 13'th Apr 2026
Rebecca Babin, CIBC Private Wealth senior equity trader and managing director, talks about rising oil prices after the US starts blocking ships transiting to and from Iranian ports. She says it could
Oil prices moved away from recent highs as traders focused on the potential second round of negotiations between U.S. and Iran.
Crude oil prices jumped on Monday as the U.S. Navy imposed a blockade on Iran's ports after peace talks failed over the weekend. CNBC's Pippa Stevens has the latest.
Oil production has dropped sharply in Saudi Arabia, Iraq, the United Arab Emirates and Kuwait due to the Iran war, according to OPEC's monthly report. Production in Iran, meanwhile, has edged slightly
The oil markets continue to see a lot of pressures, as the talks over the weekend between the Iranians and Americans failed to produce any real results. With this, supply will continue to be a major i
Wall Street is heading into one of its busiest weeks of the quarter, with earnings season kicking off, fresh inflation data on deck, and a steady drumbeat of Federal Reserve commentary likely to keep
OPEC's crude oil production plunged in March as the near-closure of the Strait of Hormuz forced key members to curb output and divert exports to alternative routes.
Rolling coverage of the latest economic and financial news
OPEC on Monday ​lowered its ‌forecast for world oil demand ​in the ​second quarter, citing ⁠the impact ​of the ongoing ​war in the Middle East, a ​copy of ​its monthly oil report ‌
Oil prices moved sharply higher as the United States prepared to impose a blockade in the Strait of Hormuz. However, broader financial markets showed a surprising degree of restraint, reflecting inves
WTI Crude rocketed to $104 as threats of a naval blockade in the Strait of Hormuz reignite supply fears. Discover the technical targets for the new bullish engulfing setup.
West Texas Intermediate and Brent crude both climbed above $100 a barrel on Monday after a breakdown in talks between the U.S. and Iran over the weekend.
Shares in British Airways owner International Consolidated Airlines Group (LSE:IAG) and engine maker Rolls-Royce Holdings PLC (LSE:RR.) fell at the start of the week as a sharp rise in oil prices h
Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.) shares moved higher at the start of the week, outperforming a weaker wider market as oil prices surged on the back of failed talks between the US
Eco (Atlantic) Oil & Gas Ltd (TSX-V:EOG, AIM:ECO) has struck a farm-out deal with BP over its offshore Namibian portfolio, bringing in a supermajor as operator while sharply cutting its own funding ex
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