[MARKET ANALYSIS] Oil prices surged following the reclosure of the Strait of Hormuz

Newsquawk StaffOil newsPublished 20 Apr 2026, 02:35 UTC

Newsquawk headlinesUTC

Every headline is on the live feed 20 minutes before this site.

Go live — 7 days for $29.99

Go live — 7 days for £24.99

Go live — 7 days for €29.99

02:30

Korea (Republic of) 5-Year KTB Auction 3.530% (Prev. 3.735%)

02:26

[MARKET ANALYSIS] Treasury futures declined as a resurgence in oil stokes inflationary pressures

02:15

[MARKET ANALYSIS] Oil prices surged following the reclosure of the Strait of Hormuz

02:01

China's March rare earth magnet exports to the US fell 9.5% M/M and its rare earth magnet exports to Japan fell by 17.3% M/M

02:01

China deploys warships for Pacific drills

On the Newsquawk feed at 02:15, 20 minutes before this page.

Use the PlatformFree. No signup, no card.

WTI/Brent: WTI Jun'26 +5.1% / Brent Jun'26 +4.8%

Oil prices surged at the reopen after Iran announced the reclosure of the Strait of Hormuz on Saturday, following a brief reopening and with reports that several vessels were attacked, while the US intercepted and took custody of an Iranian-flagged vessel. However, oil prices are off the opening highs as US President Trump also announced that US negotiators will be arriving in Islamabad on Monday evening for the next round of negotiations, although there have been conflicting reports on whether Iran will attend the talks.

Gold: -0.7%

Gapped lower beneath the USD 4,800 level amid pressure as oil prices rose, but has since pared much of the earlier losses and reclaimed the aforementioned level.

Copper: -0.5%

Retreated amid the initial spooked risk sentiment, but then gradually recouped most of the lost ground as Asia-Pac mostly shrugged off the geopolitical escalation.

Newsquawk Daily

Get both market opens in your inbox.

FX · last 90 days

Recent headlines that moved markets

FX/14 Oct · 12:30 UTC

US Core CPI (Sep MM) 0.3% vs. Exp. 0.2% (Prev. 0.3%).

- USD/JPY, after we published+0.3%

FX/8 Oct · 08:30 UTC

Fed’s Waller (voter) says more rate hikes are likely needed to tame inflation, but there is flexibility over the pace and hikes do not need to be consecutive.

DXY, after we published+0.1%

FX/5 Oct · 11:16 UTC

Japan's GPIF didn't discuss allocation at its September meeting, Bloomberg reports.

Market, after we published+0.1%

FX/29 Sept · 18:00 UTC

Fed's Williams (voter) says sees no need for urgency after Sept rate hike.

- DXY, after we published−0.2%

FX/29 Sept · 05:32 UTC

[PRESS CONFERENCE] RBA Governor Bullock says inflationary pressures to last longer than expected; inflation is driven by domestic capacity pressures; Board will raise rates again if needed.

AUD/USD, after we published−0.6%

FX/28 Sept · 07:56 UTC

Japanese FX Official Mimura says they are closely watching to see if markets take the clear message they are giving at face value. Not satisfied with or reassured by recent JPY action.

Following the commentary USD/JPY, after we published−0.5%

Newsquawk Daily

Get both market opens in your inbox.

This note and the other one — the EU open and the US open, every business day, written by the desk. No account needed.

Make Newsquawk a preferred source on GoogleSelect this to see Newsquawk more often in Top Stories when you search Google.

Free.

No signup, no card.

Use the Platform

Related headlines

The feed had this first.

Use the Platform