🚨 : US oil is pushing back toward $100 as tensions flare again around the Strait of Hormuz.
After briefly dropping from $115 to ~$93 on ceasefire hopes, prices are now rebounding as the situation deteriorates.
Key developments:
• Tanker traffic through the Strait remains severely restricted, with only a fraction of normal shipments moving
• The Strait is still effectively “not open,” with hundreds of vessels stuck and uncertainty around safe passage
• Markets are reacting fast, with crude climbing back toward the $100 level amid supply fears
This route handles nearly 20% of global oil supply, so even partial disruption is enough to shake the entire market.
The ceasefire optimism is fading quickly — and oil is pricing in risk again.