Brent crude climbs above $83 on Strait of Hormuz uncertainty

Brent crude advanced further on Thursday, pushing past $83 per barrel as traders eyed the fragile truce to reopen the Strait of Hormuz. Reports that Iran may seek to target US and Israeli-linked vessels kept geopolitical risk in focus, supporting crude prices.

The heightened tension helped lift the 10-year US Treasury yield to 4.68%, underscoring expectations that the Federal Reserve will maintain higher interest rates for an extended period.

The combined move highlights how supply-side threats continue to shape the macro landscape, with energy markets closely tracking any escalation in the region.