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Oil surges, stocks fall after Trump announces blockade of Strait of Hormuz

Markets reacted sharply after the collapse of US‑Iran peace talks and President Donald Trump’s announcement to block the Strait of Hormuz, raising concerns about Middle East energy supplies.

Published Apr 12, 2026, 10:55 PM EDT | WFMZZ

Oil prices surged and stock markets fell after US-Iran peace talks collapsed and President Donald Trump said he would blockade the strategic Strait of Hormuz. The announcement heightened fears about disruptions to energy supplies from the Middle East.

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