economy
April 14, 2026
IN BRIEF: Market reaction to US-announced blockade of Iran
Futures for Brent crude oil with June delivery on the London ICE exchange rose by more than 9%
TL;DR
- Asian stock markets declined, with Tokyo and Hong Kong exchanges falling amid rising oil prices and geopolitical concerns related to Iran.
- Brent crude oil futures surged by over 9%, and WTI futures also saw significant gains, reflecting market anxiety over potential supply disruptions.
- US President Donald Trump's statements on a potential blockade of the Strait of Hormuz and lack of progress in talks with Iran contributed to market uncertainty.
- Sweden announced temporary tax reductions on gasoline and diesel, along with subsidies for electricity and gas, to combat rising fuel prices.
- Russia's MOEX and RTS indices saw modest gains at the opening of the main session.
- India's benchmark indices fell sharply due to rising oil prices and the US blockade of the Strait of Hormuz, with the Indian rupee weakening.
- Analysts cite fears of supply disruptions, particularly a potential reduction in Iranian oil exports, as a key driver of market declines.
- Global oil prices could exceed $150 per barrel, according to Kirill Dmitriev, with implications for the EU and UK energy crisis.
- Saudi Arabia may cut oil supplies to China by half in May due to increased official selling prices amid the Iran conflict.
- Claudio Descalzi, head of Eni, called for suspending the EU's planned ban on Russian gas imports.
- Indonesian President Prabowo Subianto visited Moscow to discuss energy security with Russian President Vladimir Putin.
- ExxonMobil plans to invest over $20 billion in offshore oil production in Nigeria, citing improvements in the investment climate.
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