Trump's Iran blockade announcement sparks oil price surge
April 12, 2026
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8:50Now PlayingTrump's Iran blockade announcement sparks oil price surge
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as posted by the channelAfter U.S. peace talks with Iran ended in a stalemate, President Donald Trump says the U.S. Navy will begin a blockade of the Strait of Hormuz. According to a number of reports, Iran’s closure of the strait has triggered global economic turmoil, and reopening it was a key condition in U.S. efforts to reach a deal. Oil Analyst Tom Kloza joins LiveNOW's Andy Mac to discuss the potential impacts an ongoing blockade could have on already elevated oil prices.
"Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all ships trying to enter or leave the Strait of Hormuz," President Trump posted on social media this weekend. "At some point, we will reach an ‘ALL BEING ALLOWED TO GO IN, ALL BEING ALLOWED TO GO OUT’ basis, but Iran has not allowed that to happen… THIS IS WORLD EXTORTION."
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