{"id":894974,"date":"2026-03-28T06:13:40","date_gmt":"2026-03-28T11:13:40","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/28\/oil-and-gold-rally-as-iran-locks-down-key-oil-route-to-us-and-israeli-allies\/"},"modified":"2026-03-28T06:13:40","modified_gmt":"2026-03-28T11:13:40","slug":"oil-and-gold-rally-as-iran-locks-down-key-oil-route-to-us-and-israeli-allies","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/28\/oil-and-gold-rally-as-iran-locks-down-key-oil-route-to-us-and-israeli-allies\/","title":{"rendered":"Oil and gold rally as Iran locks down key oil route to US and Israeli allies"},"content":{"rendered":"
\n

Oil markets continued to rally on Friday morning amid renewed strain in the Middle East.<\/p>\n

Iran\u2019s Islamic Revolutionary Guard Corps (IRGC), a key instrument of Iran\u2019s military and regional strategy, declared that any movement through the Strait of Hormuz by vessels tied to US and Israeli allies would face a forceful response, state media FARS reported.<\/p>\n

The group said its navy had already intercepted and redirected three container ships attempting to pass through the corridor.<\/p>\n

The move raised concerns about prolonged interruptions on a crucial oil route.<\/p>\n

Brent and other crude prices rose on the potential supply squeeze, pushing prices higher despite recent attempts to keep markets steady.<\/p>\n

Brent crude, the global benchmark, hit around $111 a barrel, while WTI, the US benchmark, topped $98, according to the latest data<\/a>.<\/p>\n

Elsewhere, gold is also gaining, pushing above $4,500, per TradingView<\/a>.<\/p>\n

Crypto markets<\/h2>\n

Crypto markets are under renewed pressure<\/a>, with volatility on the rise. Bitcoin, which had already dipped below $67,000 earlier, extended its decline to $65,730.<\/p>\n

Investor sentiment continues to deteriorate, as the Crypto Fear and Greed Index remains in the \u201cextreme fear\u201d zone. The market value has fallen 4% to $2.35 trillion.<\/p>\n

Weakness spread across altcoins as well. Ether slid 5% to below $1,980, while BNB and XRP each recorded losses exceeding 3% over the last 24 hours.<\/p>\n

The strait and what flows through it<\/h2>\n

The Strait of Hormuz normally handles roughly 20.5 million barrels of crude oil and condensate per day, approximately one-fifth of global supply.<\/p>\n

Since US and Israeli military strikes against Iranian infrastructure commenced on February 28, 2026, under what the Pentagon has dubbed Operation Epic Fury, that flow has been severely disrupted.<\/p>\n

While Iran recently signaled \u201cnon-hostile\u201d ships may pass, most major shipping lines remain suspended, keeping the blockage largely in place.<\/p>\n

The disruption is nearly five times larger in volume terms than the 1973 Arab Oil Embargo, making it the most severe supply shock in modern energy history.<\/p>\n

Brent crude stood at roughly $73 per barrel on February 27, the day before hostilities began. Within three weeks, it rocketed to a market peak of approximately $115 per barrel.<\/p>\n

Dubai crude, a benchmark closely watched by Asian refiners, hit an unprecedented $137 per barrel during the height of the initial market panic in mid-March.<\/p>\n

Oil prices overall are up over 40% compared with pre-war levels, a punishing increase that has forced multiple governments in Asia and Europe to impose fuel rationing and other emergency conservation measures.<\/p>\n

Disclosure:<\/strong> This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy<\/a>.\n <\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Vivian Nguyen<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil markets continued to rally on Friday morning amid renewed strain in the Middle East. Iran\u2019s Islamic Revolutionary Guard Corps (IRGC), a key instrument of Iran\u2019s military and regional strategy, declared that any movement through the Strait of Hormuz by vessels tied to US and Israeli allies would face a forceful response, state media FARS<\/p>\n","protected":false},"author":1,"featured_media":894975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26965,3817],"tags":[],"class_list":{"0":"post-894974","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-locks","8":"category-rally"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/894974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=894974"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/894974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/894975"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=894974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=894974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=894974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}