Energy prices spike as Trump orders US Navy blockade of the Strait of Hormuz after US‑Iran talks break down

Global energy markets jumped after Donald Trump ordered the US Navy to blockade the Strait of Hormuz following the collapse of US‑Iran negotiations. WTI crude rose to $104, up 8%, while Brent climbed to $102, up 7%. Asian equities have posted only modest declines so far: Japan’s Nikkei fell 0.74%, India’s Nifty50 slipped 0.77%, Australia’s ASX 200 eased 0.39%, Hong Kong’s Hang Seng dropped 0.90%, and South Korea’s KOSPI lost 0.86%. US markets are set to open in a few hours—investors are watching closely for the initial reaction.