India, April 13 -- After the US Central Command (CENTCOM) announced late Sunday night that their Navy would block ships coming from or going to Iran using the Strait of Hormuz, oil prices crossed $100 per barrel. The move from the US came after no deal was reached during the Islamabad talks, mediated by Pakistan, on Saturday.

"The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman. CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports," read CENTCOM statement on X.

Brent crude futures rose $6.96, or 7.3%, to $102.16 a barrel by 0...