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Crude Oil Prices Today | OilPrice.com

Brent on Track for 12% Weekly Jump Since April as U.S.-Iran Tensions Disrupt Hormuz Shipping

AI Market Summary
Oil is set for its largest weekly surge since April as US-Iran hostilities intensify and shipping through the Strait of Hormuz is nearing a standstill. Strikes on Iranian targets and an Iran-linked tanker near Kharg Island, alongside renewed naval blockade dynamics, increase perceived supply disruption risk. Additional threats to Red Sea flows via Bab el-Mandeb amplify geopolitical risk premia, tightening near-term crude balances.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-1.88%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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The U.S.-Iran conflict has sharply escalated, with the U.S. carrying out airstrikes on Iran for a sixth consecutive night and disabling a sanctioned tanker near Iran’s Kharg Island on Thursday. Shipping through the Strait of Hormuz has nearly ground to a halt, and the Red Sea route also faces the risk of disruption if Yemen’s Iran-aligned Houthis move to block the Bab el-Mandeb Strait. Brent crude is up 12% for the week, the biggest weekly rise since April, and was at $85.06 a barrel on Friday, while WTI traded at $79.88. U.S. gasoline prices could briefly move above $4 per gallon.
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