Price of futures contracts of Brent oil grew by over 9%

MOSCOW, April 13. /TASS/. The price of futures contracts of Brent crude oil for June 2026 delivery on London’s ICE grew by more than 9% following US President Donald Trump’s statements about the blockade of the Strait of Hormuz and the failure of negotiations with Iran in Pakistan, according to trade data. As of 2:38 a.m. Moscow time (11:38 p.m. GMT of the previous day), the Brent price was up by 9.11% at $103.87 a barrel. By 7:45 a.m. Moscow time (4:45 a.m. GMT), the price of Brent oil had narrowed gains to 7.42% reaching $102.26 per barrel. Meanwhile the price of futures contracts of WTI crude oil for May 2026 delivery was up by 8.57% at $104.85 per barrel. On April 11, Iran and the United States held several rounds of talks in Islamabad. As Tehran and Washington announced later, the parties failed to reach an agreement on a long-term settlement to the conflict due to a number of differences. Details of a possible new round of talks remain unknown. On April 12, Trump announced that the US and other countries’ navies would begin a blockade of the Strait of Hormuz.