Oil prices rose for a fourth consecutive day on Wednesday as slowing tanker traffic through the Strait of Hormuz heightened concerns about disruptions to global energy supplies amid escalating tensions between Iran and the United States.
Brent crude was trading at $91.53 per barrel, while West Texas Intermediate (WTI) stood at $85.47 per barrel, according to the report.
Fresh tanker-tracking data showed that shipping activity through the strategic oil chokepoint had declined further, adding to concerns over potential supply disruptions.
Tensions between Washington and Tehran have also intensified, with neither side showing clear signs of returning to negotiations. US President Donald Trump has maintained that the Strait of Hormuz remains open, while Iran has said the waterway is shut.
Recent tanker movements have further raised concerns. Several vessels reportedly turned around instead of continuing through the strait. The United Kingdom Maritime Trade Operations also reported that a cargo vessel was struck by an unknown projectile while conducting an outbound transit of the waterway.
The Strait of Hormuz is one of the world’s most important energy shipping routes, making any prolonged disruption a major risk for global oil markets. Increased shipping risks have consequently provided additional support to crude prices.
June Goh, senior oil analyst at Sparta Commodities, said shipping risks were rising again as attacks involving Iran and the Houthis continued around key chokepoints.
However, she noted that Gulf oil producers were exploring alternative export routes to transport crude toward the Gulf of Oman, potentially helping reduce the impact of disruptions through the Strait of Hormuz.
With tanker traffic slowing and geopolitical tensions remaining elevated, oil markets are expected to remain sensitive to developments surrounding the key waterway.
