13.04.202600:33:23UTC+00Heating Oil Climbs on US Blockade of Hormuz

Heating oil futures jumped more than 8% to above $4.00 per gallon on Monday, rebounding from last week’s declines after the US announced plans to restrict maritime traffic near the Strait of Hormuz following stalled talks with Tehran. US Central Command stated it will begin enforcing a maritime blockade on all vessels entering and leaving Iranian ports starting April 13. The measure will apply to ships of all nationalities accessing ports in the Arabian Gulf and Gulf of Oman, while transit through the Strait to non-Iranian ports will remain unaffected. At the same time, reports suggested that Donald Trump is weighing renewed airstrikes on Iran after previously agreeing to a two-week ceasefire. Together, these developments have revived concerns that the conflict could last longer than anticipated, increasing the risk of significant global supply disruptions and adding fresh volatility to energy markets.