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macroJul 15, 2026, 9:50 AM

Oil Surges 2% as US Reinstates Strait of Hormuz Blockade, Brent Above $86

Oil prices rose 2% on Wednesday as the US naval blockade of the Strait of Hormuz was reinstated, pushing Brent crude above $86 per barrel.

BCO

Brent crude oil climbed 2% in early trading on Wednesday, moving back above $86 per barrel. The move follows news that the US has reinstated a naval blockade of the Strait of Hormuz, a critical chokepoint for global oil shipments.

Traders are assessing the potential disruption to supply flows through the strait, which carries roughly a fifth of the world's petroleum. The blockade raises the risk of tighter crude markets in the near term.

The price action marks a return to one-month highs for Brent, though details on the blockade's scope and duration remain limited. Market participants will watch for further updates from US naval authorities.

Source: FXStreet Forex News