Wall Street stocks shrugged off early weakness and pushed higher Monday as oil price gains moderated amid optimism that the United States and Iran would strike a peace agreement.

Some analysts cited President Donald Trump's claim that Iranian representatives phoned him and expressed keen desire for a deal after weekend talks in Pakistan failed to yield an agreement.

Oil prices, which had surged back above $100 a barrel as the United States imposed a blockade on Iran's imports, later eased. Both major contracts ended higher but below $100 a barrel.

By Bo Erickson and Hatem Maher

WASHINGTON, April 12 (Reuters) - The U.S. military said it will begin a blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday after weekend talks failed to reach a deal to end the war with Iran https://www.reuters.com/world/iran/, jeopardizing a fragile two-week ceasefire.

A French court on Monday fined the cement group Lafarge over $1.3 million and sentenced its former boss to six years in prison for paying protection money to the Islamic State group and other jihadists to maintain its business in war-torn Syria.

The ruling follows a 2022 case in the United States in which the French firm pleaded guilty to conspiring to provide material support to US-designated "terrorist" organisations and agreed to pay a $778 million fine, the first time a company had faced the charge.

By Kanishka Singh

WASHINGTON, April 12 (Reuters) - U.S. President Donald Trump https://www.reuters.com/world/us/donald-trump/ issued a scathing attack on Pope Leo late on Sunday, calling him "weak" on crime and "terrible" for foreign policy after the religious leader criticized Trump's foreign and immigration policies.

"Pope Leo is WEAK on Crime and terrible for Foreign Policy," Trump wrote in a lengthy post on Truth Social.

By Florence Tan

SINGAPORE, April 13 (Reuters) - Oil tankers are steering clear of the Strait of Hormuz ahead of a U.S. blockade later on Monday following failed peace talks between the U.S. and Iran over the weekend, shipping data showed.

President Donald Trump https://www.reuters.com/world/us/donald-trump/ said on Sunday the U.S. Navy would start blockading nL1N40U07M the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeopardising a fragile two-week ceasefire.

By Phil Stewart

WASHINGTON, April 12 (Reuters) - A U.S. naval blockade of Iran is a major, open-ended military endeavor that could trigger fresh retaliation from Tehran and put tremendous strain on an already fragile ceasefire, experts say.

President Donald Trump, in a social media post after no deal emerged from peace talks this weekend in Islamabad, said the U.S. Navy "will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz."

WASHINGTON, April 12 (Reuters) - U.S. Central Command said it will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports on April 13 at 10 a.m. ET (1400 GMT), after President Donald Trump said the U.S. Navy would start ​blockading the Strait of Hormuz.

JERUSALEM, April 12 (Reuters) - Israel approved the appointment of Roman Gofman as the new Mossad intelligence agency head, a statement from the Israeli prime minister's office said on Sunday.

Israeli Prime Minister Benjamin Netanyahu announced his intention to nominate Gofman in December 2025 and a committee for senior appointments approved the decision on Sunday. Gofman will start his role in June 2026, replacing the agency's current director David Barnea.

The failure of US-Iran peace talks has left President Donald Trump with several unpalatable options, as analysts say his order to blockade the strategic Strait of Hormuz could further complicate his next move.

Any hopes that US Vice President JD Vance would emerge from the marathon day of negotiations with top Iranian officials with a deal to end a war that has rippled across the Middle East were dashed when he left Pakistan emptyhanded.

CAIRO, April 12 (Reuters) - Iran's Revolutionary Guards said on Sunday that any military vessels attempting to approach the Strait of Hormuz will be considered a violation of the two-week U.S. ceasefire and be dealt with harshly and decisively.

The strait is under the control and 'smart management' of Iran's Navy, the Guards said in a statement reported by Iranian state media, adding it is "open for the safe passage of non-military vessels in accordance with specific regulations".

(Reporting by Ahmed Tolba and Hatem Maher; Editing by Alexander Smith)