Oil Advances Above $85 on Hormuz Tensions

Brent crude rose above $85/bbl for the first time in a month after President Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz and demanded payment for other cargo. The development raises near-term supply risk in a key chokepoint, likely supporting further upside pressure on oil prices.

Analysis

Brent crude rose above $85/bbl for the first time in a month after President Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz and demanded payment for other cargo. The development raises near-term supply risk in a key chokepoint, likely supporting further upside pressure on oil prices.