Oil jumps and Asian markets slide as US readies for Strait of Hormuz blockade

NewsWorldMiddle EastOil jumps and Asian markets slide as US readies for Strait of Hormuz blockadeDonald Trump announced the planned blockade after US-Iran ceasefire talks in Pakistan ended without an agreementYuri Kageyama Monday 13 April 2026 05:42 BSTBookmarkBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":false,"showBookmark":true,"articleId":"CF1:2956318To1","articleMeta":{"url":"https://www.independent.co.uk/news/world/middle-east/crude-oil-rate-strait-of-hormuz-iran-war-b2956327.html","title":"Oil jumps and Asian markets slide as US readies for Strait of Hormuz blockade"}}CloseRelated: Trump says US will blockade Strait of Hormuz after Iran talks end without dealOn The Ground newsletter: Get a weekly dispatch from our international correspondentsGet a weekly dispatch from our international correspondentsGet a weekly international news dispatchEmail*SIGN UPI would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice{"className":"sc-1ge0fwe-0","newsletterData":{"regSourceNewsletter":"IND_On_The_Ground_Newsletter","regTitle":"On The Ground","subscriptionGroup":"on_the_ground","subscriptionGroupId":"14806361-6435-4d19-b06e-05326605fb01","pathPrefix":["/news/world/europe","/news/world/middle-east","/news/world/australasia","/news/world/africa","/asia"],"associatedAuthors":["Bel Trew","Sam Kiley"],"title":"On The Ground newsletter: Get a weekly dispatch from our international correspondents","mobileTitle":"Get a weekly international news dispatch","lengthenedMobileTitle":"Get a weekly dispatch from our international correspondents","imageSrc":"https://static.independent.co.uk/static-assets/images/newsletters/onTheGround1_1.png","newsletterKey":"receiveOnTheGround","regSourceSection":"Middle East","regSourceMethod":"NSCs"}}Oil prices resumed their climb and Asian mar...