Oil back above $100 as US to blockade Iranian ports after peace talks fail

"effective immediately, the US Navy will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz"

— Donald Trump , Politician

"Trump's blockade may be designed to pressure Beijing into playing a more active role in mediating a ceasefire and reopening full trade flows through the Strait."

— Neil Shearing , Academic

"Oil prices are likely to remain elevated because expectations now depend on whether the blockade is fully implemented, whether shipping disruptions spread, and whether diplomacy resumes."

— Chua Yeow Hwee , Academic

"oil prices are not as high as they normally would be given the scale of disruption to supplies because traders still hope shipments will resume soon."

— Saul Kavonic , Academic

"It is about 30% of the world's aluminium, it is 30% of the world's helium, it is up to 50% of the feed stocks for fertilizers around the world and it is about 17% of all polymers."

— David Satterfield , Executive