Crude oil surged nearly 8% over the week, pushing Brent to $109.26 and WTI to $105.42, as renewed U.S. and Iran rhetoric dimmed hopes for a quick deal on ship attacks near the Strait of Hormuz. While a ceasefire remains, expectations for rapid reopening have weakened, raising fears of longer disruptions to oil and LNG flows through a route carrying nearly one-fifth of global supplies. Analysts warn pricing could stay volatile if Hormuz closure drags into June or beyond.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
