NEW YORK (AP) — Oil prices rose in early market trading Sunday after the U.S. said it would blockade Iranian ports beginning Monday.
The price of U.S. crude oil rose 8% to $104.24 a barrel and Brent crude oil, the international standard, rose 7% to $102.29.
Brent crude has swung dramatically during the Iran war, rising from roughly $70 per barrel before the war in late February to more than $119 at times. On Friday, ahead of the peace talks, Brent for June delivery fell 0.8% to $95.20 per barrel.
Iran has been effectively controlling the Strait of Hormuz, a key waterway for global oil shipping.
U.S. Central Command said the blockade would be “enforced impartially against vessels of all nations” entering or departing Iranian ports and coastal areas, including all Iranian ports on the Persian Gulf and Gulf of Oman.
It said it would still allow ships traveling between non-Iranian ports to transit the Strait of Hormuz.
Around a fifth of the world’s traded oil typically flows through the Strait of Hormuz every day. Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, and Iran are all major exporters.
Traffic in the strait has been limited even in the days since the ceasefire. Marine trackers say over 40 commercial ships have crossed since the start of the ceasefire.
Claudio Galimberti, chief economist of Rystad Energy, said the blockade will raise prices but might move the needle on talks.
“It means the oil markets will be even tighter than before,” he said. “However, I think this is a negotiation tactic, which eventually resolves into a full opening of Hormuz. So, more pain now, but more gain later.”
However, Jim Krane, Energy Research Fellow at Rice University, said the blockade might be effective as a long-term strategy to impose pain on the Iranian economy, but it isn't a good short-term negotiating tactic when the oil market is already under strain.
“If the deficit to the oil market takes another jump it is going to impose pain on every person on Earth that’s subject to market oil prices,” he said.
FILE - Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri,File)
MIAMI (AP) — Hobbling on one leg, Carlos Ulberg refused to let an injured knee ruin the opportunity he earned at UFC 327 on Saturday night.
With President Donald Trump sitting cageside, Ulberg delivered a perfect left hook to Jiri Prochazka’s chin and won the undisputed light heavyweight belt with a knockout at the 3:45 mark of the first round.
“I blew out my knee, but I never counted myself out,” Ulberg said. “I knew all I needed was that one shot and I ended up getting it. So I knew that Jiri was hesitant to come forward. And as soon as I landed my left hand he’s going.
"It’s about getting those moments.”
Ulberg (15-1-0) appeared to tweak something early in the first round when he planted his foot and his right knee buckled awkwardly. Prochazka (32-6-1) immediately went to work on Ulberg’s left leg, repeatedly landing leg kicks with hopes of taking both legs away, rather than attacking aggressively to end it.
“I felt sorry (for) him, and this is one of the biggest lessons in my life,” Prochazka said. “That fight was won, I had it, it was in my hands. I saw his injury, and ... I will be back. Life is about that, learn and be better.”
The matchup was made after former champion Alex Pereira vacated the belt to move up and challenge for the interim heavyweight crown at UFC Freedom 250 at the White House on June 14, on what will be Trump’s 80th birthday.
Earlier, on his way to the arena, Trump’s Truth Social account posted an advertisement for the event.
Trump entered the Kaseya Center shortly after 9 p.m., accompanied by UFC president Dana White and several members of the Trump family.
As a Kid Rock song blasted from the speakers, Trump walked to his seat, where Secretary of State Marco Rubio was waiting. Also nearby was Sergio Gor, the U.S. ambassador to India.
Trump, who shared several smiles with the cameras, shook hands with attendees on the floor and made a point of greeting the UFC broadcast team, including podcaster Joe Rogan.
A crowd of onlookers could be seen filming the presidential motorcade upon arrival.
In the co-main event, Paulo Costa (16-4-0) used a right roundhouse to the head to drop Azamat Murzakanov (16-1-0) and end the bout at the 1:23 mark of the third round.
Costa stepped onto the apron of the Octagon after his victory to shake Trump’s hand, and the president praised him. Costa acknowledged Trump during his post-fight interview with Rogan.
After taking to his social media site to cheer Masters winner Rory McIIroy on Sunday night, Trump used a subsequent post to congratulated Costa.
He wrote that Costa had won a “a Great UFC Fight last night in Miami. He will absolutely be a future Champion.”
Cameras appeared to capture the president telling him, “You’re a beautiful guy.”
In his post, Trump added, “It was great talking to him outside the ring after his Big Victory last night.”
Josh Hokit (9-0-0) and Curtis Blaydes (19-6-0) battered each other in the slugfest of the night, with Trump excitedly watching the heavyweights as fans chanted “This is awesome!” as the fighters bloodied each other’s faces. Hokit won by unanimous decision (29-28, 29-28, 29-28).
White took to social media after Hokit’s win to reveal that a matchup between Hokit and Derrick Lewis had been added to UFC Freedom 250. According to White’s video, Trump asked why Lewis wasn’t on the White House card. White said he called Lewis and offered him a fight, and when Rogan jokingly asked during the broadcast if there was room for Hokit on the card, the match came together.
“President Trump built half of that fight, Rogan built the other half,” White said in the video. “Both guys have agreed and accepted the fight.”
In a light heavyweight clash, Dominick Reyes (16-5-0) defeated Johnny Walker (22-10-0) with a split decision (29-28, 28-29, 29-28).
Featherweight Cub Swanson (32-14-0) ended a celebrated career with a devastating first-round TKO of Nate Landwehr (18-9-0). The 42-year-old Swanson overmatched Landwehr with a bevy of punches to the head before referee Herb Dean stepped in to stop the fight with 54 seconds left in the opening round.
An earlier version of this story incorrectly stated that Azamat Murzakanov won the co-main event.
AP MMA: https://apnews.com/hub/mixed-martial-arts
Carlos Ulberg, of New Zealand, reacts after defeating Jiri Prochazka, of Czechia, by TKO to win their light heavyweight title bout at a UFC 327 mixed martial arts event, Saturday, April 11, 2026, in Miami. (AP Photo/Rebecca Blackwell)
Carlos Ulberg, left, of New Zealand, fights with Jiri Prochazka, of Czechia, in their light heavyweight title bout at a UFC 327 mixed martial arts event, Saturday, April 11, 2026, in Miami. (AP Photo/Rebecca Blackwell)
President Donald Trump and Hunter Campbell watch a fight during UFC 327 at Kaseya Center, Saturday, April 11, 2026, in Miami. (AP Photo/Julia Demaree Nikhinson)
Curtis Blaydes, left, of the United States, absorbs a punch from Josh Hokit, of the United States, in a heavyweight bout at a UFC 327 mixed martial arts event, Saturday, April 11, 2026, in Miami. (AP Photo/Rebecca Blackwell)
President Donald Trump and Hunter Campbell watch as Paulo Costa, left, and Azamat Murzakanov fight during UFC 327 at Kaseya Center, Saturday, April 11, 2026, in Miami. (AP Photo/Julia Demaree Nikhinson)
FILE - A UFC logo stands outside the arena, April 24, 2021, in Jacksonville, Fla. (AP Photo/Gary McCullough, File)
President Donald Trump stands with Kai Trump at the UFC 327 at Kaseya Center, Saturday, April 11, 2026, in Miami. (AP Photo/Julia Demaree Nikhinson, Pool)
President Donald Trump attends the UFC 327 at Kaseya Center, Saturday, April 11, 2026, in Miami. (AP Photo/Julia Demaree Nikhinson, Pool)
President Donald Trump attends the UFC 327 at Kaseya Center, Saturday, April 11, 2026, in Miami. (AP Photo/Julia Demaree Nikhinson, Pool)
