On April 13, 2026, the international crude oil market experienced extreme volatility. WTI crude oil futures surged 9.08% in a single day, closing at $105.339 per barrel, while Brent crude oil futures rose 8.69% to $103.472 per barrel.
The immediate trigger came from the Middle East. On April 12 local time, the U.S. Central Command issued a statement announcing, in accordance with a presidential proclamation, that starting at 10:00 AM Eastern Time on April 13, the U.S. military would impose a blockade on all maritime traffic entering or leaving Iranian ports. This move directly threatens the security of shipping through the Strait of Hormuz—the world’s most critical oil transit chokepoint. Roughly 20% of global seaborne crude passes through this strait, so any disruption would have a massive impact on global energy supplies.
Core Drivers Behind This Oil Price Surge
The spike above $105 per barrel is rooted in a perfect storm of geopolitical risks and severe disruptions to the global crude supply chain.
First, ongoing disruptions in the Strait of Hormuz. Since the conflict between the U.S., Israel, and Iran escalated at the end of February, the security of shipping through the Strait of Hormuz has remained under constant threat. By the end of March, average daily crude oil throughput had plummeted by nearly 90%, forcing six countries—including Saudi Arabia and Iraq—to cut production by more than 9 million barrels per day. Brent spot prices briefly soared past $140 per barrel, hitting their highest level since 2008.
Second, Russia’s export capacity has been compromised. Beyond the Middle East conflict, Ukraine’s continued attacks on Russian ports and refineries have further tightened supply. Industry sources report that Russia’s oil export capacity has dropped by about 1 million barrels per day—one-fifth of its total exports—making further production cuts imminent. The major Baltic port of Ust-Luga was forced to halt oil exports, and Russia’s pipeline network has become clogged with crude.
Third, production increase signals remain ineffective. On April 5, OPEC+ major producers announced plans to increase output by 206,000 barrels per day in May. However, most analysts believe that as long as the Strait of Hormuz remains closed, these plans are merely theoretical—countries like Saudi Arabia and the UAE simply can’t export additional supply.
With these three shocks combined, the global crude market faces an unprecedented supply gap. Current estimates put the daily shortfall at 12 to 15 million barrels, about 15% of global supply. JPMorgan warns that if supply disruptions persist into mid-May, oil prices could set a new record above $150.
What’s Next for Oil Prices?
Although the U.S. and Iran reached a two-week ceasefire agreement in early April—triggering a nearly 20% single-day crash in oil prices—the deal has yet to be implemented, and the Strait of Hormuz quickly closed again. The core issue for oil prices now is that geopolitical events never occur during trading hours, while the reality of supply disruptions continues to build day by day.
Analysts at Guotai Junan Futures believe that if U.S.-Iran negotiations falter and military conflict escalates again, Brent crude could break above $120 per barrel within the next 3–5 months and test the $130–$160 range. Goldman Sachs also notes that if the ceasefire fails and the reopening of the Strait of Hormuz is delayed by a month, Brent’s average price could surge to $115. In short, oil prices are unlikely to stabilize in the near term—expect wide and volatile swings to become the norm.
How to Go Long on Crude Oil with Gate TradFi?
For crypto users, traditional crude oil trading channels have high barriers to entry—opening an overseas futures account, filling out complex W-8BEN forms, converting fiat currency and wiring funds across borders—all of which can take over a week before trading even begins. Gate TradFi completely breaks down these barriers.
Transfer USDT to Your TradFi Sub-Account
Log in to the Gate app or web platform, navigate to the Gate TradFi section, and transfer USDT from your main account to your TradFi sub-account. The system will automatically convert USDT to USDx at a 1:1 ratio—no need to sell USDT or exchange for fiat. You can go from deciding to trade to opening a position in under a minute.
Choose Your Crude Oil Trading Product
Gate TradFi offers two major crude oil CFD contracts:
- XBRUSDT (Brent Crude Perpetual Contract): The international benchmark, covering about two-thirds of global oil pricing. It’s more sensitive to Middle East developments and the Strait of Hormuz, making it ideal for capturing moves driven by geopolitical risk.
- XTIUSDT (WTI Crude Perpetual Contract): The U.S. benchmark, more responsive to North American inventory changes.
Both contracts are settled in USDT, support both long and short positions, and offer up to 100x leverage.
Timing Your Long Position and Managing Risk
Oil prices are currently surging on escalating geopolitical conflict, with market sentiment running extremely high after breaking $105. For long strategies, consider these key points:
- Follow the trend: In a clear uptrend, use trend-following strategies to build positions incrementally, and set take-profit and stop-loss orders to lock in gains.
- Watch key catalysts: The status of the Strait of Hormuz, progress in U.S.-Iran negotiations, and any further U.S. blockade measures will all be critical variables for oil prices.
- Manage leverage strictly: High leverage means high volatility. Gate TradFi supports stop-loss orders—always define your risk exposure before opening a position.
Trade 24/7, Anytime
Gate TradFi’s biggest advantage is 24/7 continuous trading. Traditional crude oil futures only trade during set hours Monday through Friday, with weekends and holidays closed. But geopolitical events don’t follow trading hours—military escalations can be announced at any time. Gate’s perpetual oil contracts let you open or close positions whenever you want, so you never miss a market-moving moment.
Conclusion
On April 13, 2026, the U.S. blockade of Iranian ports pushed WTI crude above $105 and Brent crude above $103, sending geopolitical risk premiums soaring. With the Strait of Hormuz still closed, Russia’s export capacity diminished, and OPEC+ production increases stalled, the triple supply shock means oil prices still have room to climb.
Going long on crude oil with Gate TradFi takes just three steps: transfer USDT, choose XBRUSDT or XTIUSDT, and set your take-profit and stop-loss before opening a position. With 24/7 trading, up to 100x leverage, and direct USDT settlement, Gate TradFi gives you a fast and efficient toolkit—whether you’re looking to capture short-term breakouts or position for medium-term geopolitical risk premiums.
