Stocks drop and oil surges back above US$100 as US’ blockage of Hormuz escalates war
- Posted on April 13, 2026
- By South China Morning Post
- 0 Views
In brief
Global financial markets experience significant turbulence as equity indices decline amid escalating geopolitical tensions in the Middle East. Crude oil prices rally above $100 per barrel following reports of US military actions near the Strait of Hormuz, a critical maritime chokepoint for international energy supplies. The market volatility reflects investor concerns over potential supply disruptions and broader economic implications of regional conflict intensification.
