Story perspectives

Trump Orders Iran Port Blockade, Oil Hits 4-Year Highs

4/30/2026

Summary

Trump Orders Blockade

U.S. President Donald Trump ordered a blockade of Iranian ports, sending oil prices to four-year highs.
Brent June futures reached $126.41 per barrel, the highest level since March 2022.
West Texas Intermediate rose above $110 per barrel, its first breach since early 2022.
U.S. gasoline averaged $4.23 a gallon and diesel $5.46 a gallon, setting four-year records.
The Strait of Hormuz stayed closed, cutting about 20% of global oil and LNG flows.

Summary

Iran Offers Reopening

U.S. Central Command prepared a plan against Iranian infrastructure, but no order was issued.
Iranian foreign minister Abbas Araghchi, after meeting President Vladimir Putin in St. Petersburg, blamed Washington, while the defense minister in Kyrgyzstan said United States can no longer impose policies on nations.
The Iranian offer to reopen the Strait of Hormuz, transmitted through Pakistani mediators, came as Bitcoin and Ethereum fell while investors retreated from risk during crisis.

History

Historical Context

In October 1973 OAPEC, led by Saudi Arabia, cut output and imposed an oil embargo on the United States after the Yom Kippur War, sending crude from $3 to $12 a barrel. The 2019 Trump administration order to block Iranian ports mirrors that embargo-style pressure, again using the Strait of Hormuz to curb supply and lift Brent above $126.

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Trump Orders Blockade

U.S. President Donald Trump ordered a blockade of Iranian ports, sending oil prices to four-year highs.
Brent June futures reached $126.41 per barrel, the highest level since March 2022.
West Texas Intermediate rose above $110 per barrel, its first breach since early 2022.
U.S. gasoline averaged $4.23 a gallon and diesel $5.46 a gallon, setting four-year records.
The Strait of Hormuz stayed closed, cutting about 20% of global oil and LNG flows.

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