Oil Jumps 10% After Trump Says He Will Reimpose Blockade

International crude prices surged nearly 10% on Monday, marking their biggest single-day gain since 2020. The jump came after President Trump announced he would reinstate a U.S. naval blockade in a key global waterway. Traders are betting that the Strait, a narrow passage critical for oil tanker traffic, will not return to normal operations anytime soon. The blockade threatens to disrupt supply routes that carry roughly one-fifth of the world’s crude. Analysts say the move raises the risk of a prolonged supply squeeze. The price spike reflects market fears of a sustained interruption, not just a temporary disruption.