From CENTCOM:
U.S. Central Command (CENTCOM) forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports on April 13 at 10 a.m. ET, in accordance with the President’s proclamation.
The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman. CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.
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Response of Brent futures:
Up $6.7 as of 5:30PM CT.
Kalshi odds on re-opening are back to pre-talk levels:
The U.S. says it’s going to block Iranian exports. Iran is already blocking other PersianGulf exports. That means less oil than before. So we’re making the oil shortage worse.
Gotta wonder – what’s gonna happen with Bab al Mandeb? Couldn’t the Houthis block exports from the Red Sea? Suez, sure, but still the Houthis could block most of the exports that would normally go through Bab al Mandeb. That’s about 5% of global oil supply, on top of the 20% already shut down. Plus the little bit coming from Iran. Oh, and our Navy is supposed to be chasing down tankers carrying Iranian oil on the high seas. Seems like the oil shortage is going to get worse. More worse.
Iran, through its proxy, still has a card or two to play.
Whoopie – gasoline at $2 a gallon! Oh wait.
This is all good for the electric car industry. Elon must be so happy. Chinese electric car makers certainly must be.
It’s a lifeline. China’s auto makers had excess capacity, like many favored industries in China. Exports were the inly available solution. Big increase in March:
https://www.reuters.com/business/autos-transportation/chinas-car-sales-extend-declines-march-2026-04-09/