Brent surpasses $96, concerns grow over Strait of Hormuz amid US-Iran clashes

International oil prices have seen another sharp increase, with the Brent variety nearing the $96 per barrel threshold again. The move comes amid deteriorating relations between the United States and Iran, reviving fears about the stability of global fuel supplies.

During today’s trading session, Brent futures contracts traded around the $96 level, recording a daily advance of 0.3 percent. Viewed on a weekly basis, the increase is even more impressive, surpassing 7 percent. At the same time, U.S. West Texas Intermediate (WTI) crude is hovering near $92 per barrel.

The escalation of rhetoric and military actions between Washington and Tehran is behind this market tension. Following U.S. forces’ strikes, Iran has carried out countermeasures, while incidents involving attacks on vessels transiting the Strait of Hormuz have been confirmed.

This waterway holds paramount strategic importance for the global maritime transport of oil and natural gas. A prolonged blockage of traffic at this key chokepoint would have severe consequences for international supply chains, exerting additional upward pressure on prices.

Despite these tensions, senior White House officials are trying to convey a message of calm. The U.S. administration assures that the flow of ships through the strait has approached normal pre-conflict levels.

Vice President J.D. Vance described the improvement in the situation in Hormuz as significant, while President Donald Trump stated that the U.S. exercises “strong control” over this vital maritime artery.

According to Trump’s statements, dozens of ships are transiting this passage each night. Energy Secretary Chris Wright referred to a volume of about 17 million barrels of oil per day, while a chart published by the president himself showed a figure of approximately 18 million barrels per day.

However, these figures remain below the volume cited for the period before the outbreak of hostilities, which was estimated at around 20 million barrels per day.

Despite the optimistic tones from Washington, financial market participants remain alarmed by the risk that a new round of military escalation could again hit freedom of navigation in Hormuz. Such a scenario would further increase pressure on oil benchmarks and have a direct impact on rising fuel prices in global markets.