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U.S. Seizes Iranian Ship; Oil Prices Surge 7.5%

4/20/2026

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U.S. Military Seizes Ship
  • On April 19, 2026, the U.S. military seized the Iranian-flagged cargo ship Touska near the Strait of Hormuz after it attempted to evade a naval blockade.
  • U.S. President Donald Trump said the USS Spruance fired upon the vessel, which is under U.S. Treasury sanctions.
  • Oil prices surged after the incident, with West Texas Intermediate rising 7.5% to $90.17 per barrel.
  • Energy Secretary Chris Wright warned that gas prices could remain high for months.
  • The national average gas price was $4.048 per gallon, affecting American financial stability.
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