Brent closed above USD 90 for the first time since June, on a day marked by rising tensions between the United States and Iran and fears of disruptions in the global crude flow.
North Sea Brent crude for September delivery finished at USD 91.01 on the London futures market, while WTI rose 2.02% to USD 84.91, completing its fourth consecutive upward session.
The move reflected an immediate market reaction to the possibility of new logistical disruptions on key oil routes. In this context, the Strait of Hormuz has once again become the center of alerts due to its strategic importance in crude transportation.
Hormuz, Red Sea, and supply pressure
The International Energy Agency warned that the deteriorating situation in Hormuz increases concerns about supply security and raises market uncertainty. In recent days, three oil tankers were attacked near Oman, reinforcing the perception of risk.
In addition, Yemen’s Houthis threatened to block the Red Sea, a route that is already facing vessel diversions for security reasons. The firm Vanguard Tech reported that two ships changed course after loading Saudi crude in Yanbu, a sign that the market is beginning to adjust routes in the face of a potential escalation.
Brent closed above USD 90 and the market reacts
The bullish turn was also influenced by the stance of Donald Trump, who ruled out immediate negotiations with Iran and once again spoke of new attacks. Tehran, for its part, denied seeking a diplomatic rapprochement.
Saudi Arabia, the world’s largest oil exporter, had already redirected some of its cargoes through the Red Sea in response to the blockade of Hormuz. With the new Houthi threat, that alternative came under additional pressure.
“If the Red Sea is effectively closed, that could push us past USD 100,” warned Jay Hatfield of Infrastructure Capital Management LLC.
What could happen now with Brent
For Hatfield, crude could trade in the range of USD 80 to USD 90 depending on how daily news evolves, although a real closure of the Red Sea would more severely disrupt market balance.
For now, the most relevant fact is that Brent closed above USD 90 and reconfirmed that oil remains extremely sensitive to any sign of geopolitical shock in the Middle East.
