"Brent crude, the international benchmark, rose more than 8 percent on Sunday to top $103 a barrel, marking the first time it exceeded the $100 threshold since Tuesday."
"US Central Command stated that the blockade would only affect vessels traveling to and from Iran, scaling back Trump's initial threat of a full blockade."
"Despite the fragile truce officially remaining in place until April 22, only 17 vessels crossed the Strait of Hormuz on Saturday, a significant drop from the pre-war average of 130 daily transits."
Asian stock markets experienced declines as oil prices surged following US President Donald Trump's announcement of a naval blockade of Iran. Brent crude prices rose over 8 percent, surpassing $103 a barrel. The blockade, effective Monday, aims to restrict vessels traveling to and from Iran after ceasefire talks collapsed. Despite a fragile truce, maritime traffic through the Strait of Hormuz has significantly decreased. Major Asian markets opened lower, reflecting the uncertainty stemming from the blockade threat and its potential impact on global oil supplies.
Read at www.aljazeera.com
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