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Oil Hits $100; Iran Seizes Ships, US Blocks Tanker

4/23/2026

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Story summary
  • Oil prices topped $100 for Brent and $90 for WTI on April 23 after President Donald Trump extended the Iran cease-fire.
  • Tensions rose in the Strait of Hormuz as Iran’s Revolutionary Guard seized two cargo ships on April 23.
  • The U.S. Navy blocked a second tanker carrying Iranian oil the same day.
  • U.S. gasoline hit $4.03 and diesel $5.47 a gallon, up 35 % and 45 % since the war began.