This effectively means that Iran will be unable to export its crude oil through this critical route. The development has sent shockwaves across global markets, triggering a sharp surge in crude oil prices. As a result, crude oil prices have surged sharply today, returning to levels seen before the ceasefire. Crude oil prices todayCurrently, Brent crude is trading at USD 101.6 per barrel, up 6.72%, while WTI crude has climbed 7.92% to USD 104.2 per barrel. Impact on petrol and diesel prices in IndiaAlthough the government is taking several measures to keep petrol and diesel prices under control, including the recent excise cut.

Source: News 24 April 13, 2026 04:31 UTC