Brent crude jumps over 5% following Trump's pledge to reinstate blockade on Iranian ports

MOSCOW, July 13. /TASS/. The price of September 2026 futures for Brent crude on the London-based ICE exchange surged by more than 5%, market data showed. The spike followed a statement by US President Donald Trump regarding the reinstatement of a blockade on Iranian seaports.

As of 5:21 p.m. Moscow time (2:21 p.m. GMT), Brent crude was up 5.29%, trading at $80.03 per barrel.

By 5:31 p.m. Moscow time (2:31 p.m. GMT), Brent parried some gains, trading at $79.63 per barrel (+4.76%). At the same time, WTI crude futures rose by 4.78% to $74.82 per barrel.