Brent crude futures surged up to 7% reaching $97.50 per barrel, settling at $95.71 by 18:56 ET.
U.S. forces seized an Iranian‑flagged cargo ship after firing on it, prompting Iran to close the Strait of Hormuz again.
The closure, affecting about 20% of global oil consumption, lifted crude prices and heightened geopolitical tension ahead of the cease‑fire deadline on April 21.
US President Trump announced envoys heading to Islamabad, while Iran rejected further peace talks, extending uncertainty over the conflict.