Oil prices today: brent, WTI, Hormuz blockade
Drone footage of the oil tanker HELGA docking at one of the offshore oil terminals near Basra in southern Iraq as it prepares to load crude oil, the second ship to arrive since the Strait of Hormuz was closed on April 24, 2026.
Muhammad Horse | Reuters
Oil prices rose in volatile trading on Wednesday as US forces launched a new round of attacks on Tehran and Washington resumed a naval blockade of Iranian ports near the Strait of Hormuz.
US West Texas Intermediate futures for August delivery rose 1.01% to $80.14 per barrel. International benchmark Brent September futures contracts increased by 1.23% to $85.77.
US Central Command said late Tuesday it had launched a new wave of strikes against Iran, targeting dozens of military assets near the Strait of Hormuz and along Iran’s coastline in a seven-hour operation.
Centcom said the strikes, which involved fighter jets, drones and naval ships, hit missile and drone facilities, naval assets and coastal defense systems, further weakening Iran’s ability to threaten commercial shipping.
The operation began when US forces resumed a naval blockade of ships traveling to and from Iranian ports earlier in the day.
Centcom Commander Brad Cooper later said in a social media statement that Iran “intentionally” targeted civilians and attacked seven commercial ships last week, leaving nearly a dozen crew members dead, missing or injured.
“The latest tension shows how premature it is to expect a rapid opening of the Bosphorus,” said Saul Kavonic, senior energy analyst at Mst Marquee.
“The hostilities and the reimposed blockade have put the conflict on a renewed escalatory path,” he told CNBC in an email. “Oil could retest $100 if the current intensity of hostilities continues for a few more weeks, or rise further if regional oil infrastructure is targeted.”
