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US oil benchmark surges 7.5% as Middle East conflict escalates

US oil benchmark surges 7.5% as Middle East conflict escalates

People riding mopeds drive past destroyed buildings as displaced residents return to the southern Lebanese village of Srifa on April 19, 2026. (AFP)

This live blog follows updates for Day 52 of the US-Israel war on Iran. For a recap of Day 51, go here.


  • Israel threatens force in Lebanon despite ceasefire tensions
  • US seizes Iranian ship, escalating maritime confrontation
  • Iran condemns blockade, warns retaliation soon
  • Strait of Hormuz remains high-risk for shipping
  • Diplomatic efforts continue with talks planned in Pakistan.


US oil benchmark surges 7.5% as Middle East conflict escalates

Published: April 20, 2026 | 00:15GMT | by Web Desk


The benchmark US oil contract, West Texas Intermediate (WTI), surged 7.5% on Monday, as Iran accused the United States of having broken a ceasefire in place since early April.


WTI crude was trading up 7.5% at $90.17 per barrel, while international oil benchmark Brent North Sea crude gained 6.5% to $96.27 per barrel.


Iran's military said a US destroyer fired on an Iranian-flagged cargo ship in the Gulf of Oman that tried to evade a US naval blockade.


Meanwhile, the Strait of Hormuz, a vital conduit for the world's oil and liquefied natural gas, has been virtually closed since the start of the US-Israeli war with Iran.




US destroyer fires on, seizes Iran cargo ship trying to evade blockade

Published: April 20, 2026 | 01:21GMT | by Web Desk


A US destroyer fired on and seized an Iranian-flagged cargo ship in the Gulf of Oman that tried to evade a US naval blockade, President Donald Trump and the US military said.


Trump posted on Truth Social that after the Iranian vessel, Touska, ignored warnings to stop, the guided missile destroyer USS Spruance "stopped them right in their tracks by blowing a hole in the engine room."


Separately, the US Central Command released footage of enforcing naval "blockade measures against an Iranian-flagged cargo vessel attempting to sail toward an Iranian port."