24.04.2026 09:30
Iran's interception of two foreign vessels in the Strait of Hormuz and the US's continuation of the blockade decision have shaken global oil markets. Following these developments, WTI crude rose to $97, while Brent crude climbed back to $106. Iran's 'red line' warning and the escalating military tension in the region have intensified concerns over energy supply, accelerating the price surge.
The latest developments in the Strait of Hormuz, one of the most critical points of the escalating war between the US, Israel, and Iran, have once again shaken global energy markets. Following Iran's intervention against two foreign ships in the strait, oil prices experienced a sharp rise.
OIL PRICES ON THE RISE
After the tensions, the price of US WTI crude oil rose to approximately $97 per barrel. Brent crude, which Turkey references, also climbed back to three digits after two weeks, trading around $106.
Experts state that any development in the Strait of Hormuz affects about 20% of global oil supply, thus causing rapid fluctuations in prices.
WAR SHAKES ENERGY MARKETS
According to analyses in foreign media, the military maneuvers and ship crises in the region create significant uncertainty in the oil market. The US's seizure of an Iranian ship and military activity around the strait have increased concerns over energy supply, leading to a renewed rise in prices.
It is also noted that disruptions in the Strait of Hormuz have severely reduced tanker traffic, creating a major supply shortage in the global market.
TRUMP'S "BLOCKADE" ORDER
US President Donald Trump stated on his social media account that the blockade against Iran would continue, saying, "I have ordered our military to maintain the blockade." This statement further increased market unease.
"RED LINE" MESSAGE FROM IRAN
Iran's Revolutionary Guard Corps emphasized that violating security in the Strait of Hormuz is a "red line," signaling that military tensions in the region could continue.
GLOBAL CRISIS DEEPENS
According to international reports, hundreds of millions of barrels of oil supply have been unable to reach the market since the start of the war, putting significant pressure on the global economy.
Analysts warn that a new closure or military escalation in the Strait of Hormuz could push oil prices even higher and increase global inflation.