On April 13, US stock futures indicated a decline of 1% as oil prices surged following President Donald Trump's announcement of a potential blockade in the Strait of Hormuz. This region has seen significant shipping disruptions due to ongoing tensions with Iran, which has prompted fears of further escalation. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures fell between 0.5% and 1%. Oil prices have risen sharply, with Brent crude reaching over $102 per barrel, reflecting concerns over supply disruptions. The latest Consumer Price Index (CPI) report showed inflation rising to 3.3%, the highest since May 2024, leading traders to anticipate a 30% chance of a rate cut by the Federal Reserve in December. As the first-quarter earnings season begins, major banks like Goldman Sachs and Citigroup are set to report their results, adding to market volatility. Analysts suggest that Trump's statements may be aimed at pressuring Iran to negotiate a deal, although this could also exacerbate oil prices ahead of the US midterm elections in November.