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Brent Surges Above $100 Amid Concerns Over Strait of Hormuz

Published March 17, 2026, 08:16
Brent Surges Above $100 Amid Concerns Over Strait of Hormuz

Oil prices rose by more than 2% as concerns intensify over the safety of navigation in the Strait of Hormuz, amid pressure for the formation of a US-led coalition. The Brent contract returned above $100 a barrel, reaching $103.44, while WTI strengthened to $96.12 a barrel. The uncertainty surrounding the protection of global shipping in the Strait of Hormuz, combined with mixed messages from the Trump administration regarding the duration of the war, is contributing to the rise in prices. The United States allows Iranian tankers to pass through the Strait, while also urging its allies to send military forces to protect tankers. Ship movement through the passage has decreased significantly after Iranian attacks, intensifying concerns about a potential disruption to global oil supply. Analysts point out that the scale of the potential disruption is so large that it makes it difficult for the market to find an adequate solution. The situation in the Strait of Hormuz is being closely monitored by the oil market, as the interruption of tanker traffic could lead to a significant increase in prices and cause serious problems for the global economy.