MacroAug 10, 2026, 1:32 PM

WTI Crude Jumps Over 3% as Iran Sets Strait of Hormuz Conditions

West Texas Intermediate rallied over 3% to near $78.80 on Monday after Iran set conditions for reopening the Strait of Hormuz, keeping supply concerns alive.

WTI

WTI oil prices rose sharply on Monday, climbing 3.20% to trade around $78.80 per barrel. The move came as Iran set conditions for the reopening of the Strait of Hormuz, a critical choke-point for global crude shipments.

Uncertainty over the strait and ongoing Middle East tensions supported the gains. The situation remains fluid, with no clear timeline for normalization.

Source: FXStreet Forex News

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