Brent futures jumped 8% to $102.93/barrel as President Trump ordered a US Navy blockade of the Strait of Hormuz.
The blockade starts 10:00 ET (14:00 GMT) Monday, after failed Pakistan cease‑fire talks, risking supply of about 20% of global oil.
Vice President JD Vance led the US delegation, leaving Pakistan early Sunday after 21 hours of negotiations without an agreement.
Iran, blocking Hormuz since late‑February, says no plans for further nuclear talks as regional states push for new cease‑fire talks.