Oil rebounds sharply after Strait of Hormuz closure sparks fresh crude surge

Published on 24 April 2026

A key chokepoint closure flips prices higher fast

Oil prices surged as the Strait of Hormuz reportedly closed again, reigniting supply disruption fears. Brent crude futures climbed $6.11 (6.76%) to $96.49 a barrel, while U.S. West Texas Intermediate rose $6.53 (7.79%) to $90.38 by 2327 GMT, reversing earlier declines and boosting sentiment across energy markets.

Brent jumped about 6.8% to $96.49 a barrel
WTI rose nearly 7.8% to $90.38 per barrel
Hormuz closure fears drove a rapid price rebound
The move signals renewed risk premium for crude supply

#commodities #wti #strait of hormuz #brent crude #oil

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Oil rebounds sharply after Strait of Hormuz closure sparks fresh crude surge

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