Oil and gas prices jumped today after reports of a US warship incident near the Strait of Hormuz. Brent and US WTI crude futures rose around 5%, while Dutch natural gas prices also climbed as LNG supply stayed trapped. Analysts now focus on supply disruption risks, OPEC+ output decisions, storage levels, and ongoing geopolitics to gauge whether the rally can continue or reverses.
Oil prices are rising as the Iran conflict threatens supply while the UAE’s announced exit from OPEC and OPEC+ adds fresh uncertainty. Brent is hovering near a three-week high and WTI has crossed $100. Markets are also reacting to inflation signals, bond-yield moves, and stock weakness tied to AI growth worries and looming central bank decisions.
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Oil prices eased Wednesday after President Donald Trump announced an indefinite extension of the U.S.-Iran ceasefire, reducing fears of an immediate Middle East supply shock. Brent fell to $97.42 and WTI to $88.53. However, the Strait of Hormuz remains largely constrained, with reports noting only three ships passed in the past 24 hours.
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