Strait of Hormuz News Updates

Brent for delivery in July, which is where more of the trading is happening in the oil market, rose 5.3% to $109.92.

Tehran could be using retired ships to keep loading oil. The U.S. blockade means tankers carrying Iranian oil remain stuck in the Persian Gulf or the Gulf of Oman. 

U.S. crude exports surged to a record above 6 million barrels a day as the Iran war sends overseas buyers hunting for replacements to Middle Eastern oil.

A Japan-linked oil tanker completed a rare transit of the Strait of Hormuz, as the effective closure of the waterway enters its third month.

The extended closure of the Strait of Hormuz and extreme weather have jolted farm commodities prices to a two-year high.

The oil and LNG shortages caused by the blockade of the Strait of Hormuz are likely to drag on for months and possibly into next year, Shell CEO Wael Sawan said.

Brent crude to be delivered in July, which is where more of the trading is happening in the oil market, rose 2.7% to $104.40 on April 28.

Brent to be delivered in July, which is where more of the trading is happening in the oil market, rose 3% to $102.08 per barrel.

The longer the strait stays closed, the more consumption is going to have to recalibrate lower to align with supply that has dropped at least 10%.

The price for a barrel of Brent crude to be delivered in June swung between $103 and $107 in the morning and most recently was up 0.3% at $105.38.