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On July 13, 2026, oil prices surged by about 9% to approximately $83 per barrel after President Trump announced a reinstatement of a naval blockade on Iran. The average U.S. gasoline price rose to $3.87 per gallon, while tracking services reported a decline in vessel traffic through the Hormuz Strait, contradicting Trump's assertions.
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On July 13, 2026, oil prices surged by about 9% to approximately $83 per barrel after President Trump announced a reinstatement of a naval blockade on Iran. The average U.S. gasoline price rose to $3.87 per gallon, while tracking services reported a decline in vessel traffic through the Hormuz Strait, contradicting Trump's assertions.
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Oil jumps as Trump claims new Hormuz blockade on Iran
Oil Prices Rise Following Trump's Claim of Naval Blockade on Iran