05.05.2026 08:10
Rising conflicts in the Strait of Hormuz and US-Iran tensions have sharply increased oil prices. Brent crude surged nearly 6% to over $114, with gains exceeding 50% since the start of the war.
The fragile ceasefire between the USA and Iran has been shaken by clashes in the Strait of Hormuz, leading to a sharp rise in oil prices. Brent crude rose nearly 6% to above $114.
CONFLICTS TRIGGER PRICES
The US military announced it had destroyed six Iranian small boats in response to attacks on commercial vessels, and the United Arab Emirates reported a missile and drone attack from Iran, increasing market anxiety. Iran denied the US claims of boat destruction.
MARKET RISK REFLECTED IN PRICES
Experts note that markets are pricing in the risk that the Strait of Hormuz may remain closed longer than expected and energy infrastructure could suffer further damage, strengthening upward pressure on oil prices.
SHIPPING TRAFFIC STILL SLUGGISH
Despite US President Donald Trump's announcement of military escorts for commercial ships passing through Hormuz, security concerns have prevented a significant recovery in maritime traffic. The International Transport Workers' Federation called for ships not to transit without security guarantees.
20,000 SEAFARERS STRANDED
According to the International Maritime Organization, about 20,000 seafarers are stranded on approximately 2,000 ships in the Strait of Hormuz. The United Nations stated that the closure of the strait is blocking the transport of oil, gas, and other critical products, straining the global economy.
OVER 50% INCREASE SINCE THE WAR
Since the war began in late February, Brent crude prices have risen more than 50%. With an estimated daily production gap of about 14.5 million barrels, experts predict prices will remain high for some time even if an agreement is reached.
RISE MAY CONTINUE
Analysts suggest that as countries begin using their energy reserves, oil prices may continue to rise.