The price of Brent crude jumped 7.9% to $95, erasing most of the fall on Friday when the Strait of Hormuz was announced to reopen. At the same time, gas prices in Europe soared by 11%.
On April 19, a US Navy destroyer intercepted the Iranian cargo ship Touska, which was attempting to break the US naval blockade in the Strait of Hormuz.
Context
After Trump's threats about the “death of an entire civilization,” on April 7, the parties agreed to a two-week truce: during this time, the United States will not strike Iran, and Tehran will open the Strait of Hormuz.
On April 11, US and Iranian delegations held talks in the Pakistani capital Islamabad, but they failed to conclude an agreement. After this, on April 12, Trump announced a blockade of the Strait of Hormuz by the US Navy.
On April 17, the head of the White House announced that Iran had pledged to “never again close the Strait of Hormuz.” On April 18, Tehran announced that the United States was not complying with the agreement and again closed the Strait of Hormuz.
