WTI Crude Oil Rises 10% Amid U.S.-Iran Peace Talks Stalemate

WTI crude oil experienced a significant intraday increase of 10%, reaching $105.33 per barrel, following the conclusion of the initial round of U.S.-Iran peace talks in Islamabad, which ended without an agreement. According to NS3.AI, the U.S. Central Command announced plans to block all maritime traffic to and from Iranian ports starting at 2:00 p.m. UTC on April 13. The U.S. military clarified that vessels traveling through the Strait of Hormuz to non-Iranian ports will not encounter any restrictions.