U.S. Naval Blockade of Iran Enters Fourth Day; Brent Retreats to $96.83

The U.S. blockade of all Iranian ports, involving more than 12 naval vessels and over 10,000 troops, took effect at 10 a.m. ET on April 13 and remained in place through day four. Four Iran-linked ships attempted transit through the Strait of Hormuz on April 14 but were turned back by U.S. forces. Brent crude fell $3.36 to $96.83, with some geopolitical risk premium unwinding reflected in the price.