It’s raining wet: Hormuz is blocked, oil prices start to rise again

The failure of the talks in Islamabad between the US and Iran is already being felt on the energy markets. In Ameterdam the price of gas is rising sharply. The TTF index in these minutes …

Written by: Jack Williams

Published on: April 13, 2026

The failure of the talks in Islamabad between the US and Iran is already being felt on the energy markets. In Ameterdam the price of gas is rising sharply. The TTF index in these minutes is close to 48 euros per MWh, grossing an increase of over 9% in futures for May.

Things aren’t any better on the oil front. On the London market, Brent surpassed 101 dollars, with an increase of around 7% in a few hours, while on the West Texas Intermediate it stood at over 103 dollars. US President Donald Trump’s announcement of a naval blockade for ships entering or leaving Iranian ports in the Gulf also weighs on the nervousness of the markets. The measure will come into force today at 4pm and marks a new escalation of the conflict between Washington and Tehran.

Jack Williams

Jack Williams established himself as the editor-in-chief of The Vermilion with rigorous journalistic traits and an incessant quest for truth. His career began as an investigative reporter, where he quickly gained a reputation for his in-depth research and insightful articles. Williams takes his role at The Vermilion very seriously. Since he became editor-in-chief, he has set an editorial line based on impartiality, factual accuracy, and context relevance; this has established The Vermilion as a reference for political, economic, and global news. Under his leadership, the media continues its mission of reporting news with accuracy and equanimity, giving a voice to those who are often overlooked by large-scale media. Jack dedicates himself to fulfilling this mandate with passion, rigour, and unwavering determination.