# Oil prices are projected to reach their zenith in the coming weeks as the resumption of ship traffic through the Strait of Hormuz is awaited.

*business · news · 2026-04-13 · Devdiscourse*

## Key points

- Oil prices are expected to peak soon as the Strait of Hormuz remains blocked.
- Iran's blockade of the Strait of Hormuz since February 28 has disrupted global shipping routes.
- The U.S. military has extended its control eastward in response to the shipping disruption.
- Venezuela's oil production increased by 25% after legal reforms and new foreign investments.

**Companies:** Chevron
**Countries:** United States, Iran, Venezuela

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/headlines/3873053-energy-prices-set-to-surge-oil-peaks-as-strait-tensions-persist)

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