Business · Associated Press Technology
US Central Command confirms it will begin a blockade of Iranian ports on Monday
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
★ Tier-1 Source
Vice President JD Vance arrives for news conference after meeting with representatives from Pakistan and Iran, Sunday, April 12, 2026, in Islamabad, Pakistan. (AP Photo/Jacquelyn Martin, Pool)
Key facts
- The price of U.S. crude oil rose 8% to $104.24 a barrel and Brent crude oil, the international standard, rose 7% to $102.29
- Michael Lynch, distinguished fellow at Energy Policy Research Foundation, estimates Trump’s threatened blockade could boost oil prices $5 to $10 when the market opens on Monday
- Brent crude oil, the international standard, has gone from roughly $70 per barrel before the war in late February to more than $119 at times
- Vice President JD Vance arrives for news conference after meeting with representatives from Pakistan and Iran, Sunday, April 12, 2026, in Islamabad, Pakistan. (AP Photo/Jacquelyn Martin, Pool)
Summary
Vice President JD Vance arrives for news conference after meeting with representatives from Pakistan and Iran, Sunday, April 12, 2026, in Islamabad, Pakistan. (AP Photo/Jacquelyn Martin, Pool) Australian Prime Minister Anthony Albanese has announced he will visit regional neighbors in his efforts to secure fuel supplies threatened by the Iran war. Albanese visited Singapore last week and said on Monday he would visit Brunei and Malaysia this week to “ensure Australia’s energy supply remains secure during times of uncertainty.” The three Southeast Asian countries are major suppliers of Australia’s gasoline, diesel and jet fuel. Albanese will meet Brunei’s Sultan Hassanal Bolkiah and Malaysian Prime Minister Anwar Ibrahim in visits between Tuesday and Friday.