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Strait of Hormuz Closed: Oil Prices Surge Above $100

4/10/2026

50 11 Full Breakdown

Summary

Story summary

The Strait of Hormuz remains closed.
Iran restricts access, impacting energy flows.
Dr. Sultan Al Jaber, CEO of Abu Dhabi National Oil Company, called for the strait to be fully reopened.
Iran has announced two safe routes for vessels to avoid sea mines.
The blockage halted oil production for the United Arab Emirates and Gulf producers, causing prices to rise above $100 per barrel, with tension after a ceasefire attempt.

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Story summary

The Strait of Hormuz remains closed.
Iran restricts access, impacting energy flows.
Dr. Sultan Al Jaber, CEO of Abu Dhabi National Oil Company, called for the strait to be fully reopened.
Iran has announced two safe routes for vessels to avoid sea mines.
The blockage halted oil production for the United Arab Emirates and Gulf producers, causing prices to rise above $100 per barrel, with tension after a ceasefire attempt.