Crude Oil Prices Jump Nearly 3% As Hormuz Disruptions Trigger Volatility

Global crude prices moved higher by nearly 3 per cent, reversing earlier losses as concerns over supply tightened. Disruptions in the Strait of Hormuz drove the upward movement.

Brent crude futures climbed to $103.20 per barrel, reflecting a rise of 2.98 per cent. At the same time, US West Texas Intermediate (WTI) crude advanced 3.05 per cent to $96.36 per barrel in morning trade.

In the previous trading session, oil benchmarks displayed volatility.

Brent crude slipped by 2.8 per cent, while WTI fell nearly 5 per cent, despite both recording intraday gains earlier.

The Strait of Hormuz continues to serve as a vital corridor, handling around one-fifth of global oil and LNG trade.

Ongoing tensions involving the United States, Israel, and Iran have disrupted activity in the region, raising fears of supply constraints and higher energy costs.

Despite the recent surge, weekly price trends remained largely stable. Brent crude hovered around last week’s levels, while WTI registered a marginal decline of over 1 per cent.

The United States finalised energy agreements worth $56–57 billion with Indo-Pacific nations to enhance supply security.

Authorities also allowed Iranian oil tankers to continue transit through the Strait to prevent further disruptions.

Disruptions in the Strait of Hormuz continue to pose risks to global markets.

Analysts highlighted that economies across Asia, including India, remain exposed due to heavy dependence on crude imports.

Domestic indices such as the BSE Sensex and Nifty 50 recorded notable volatility during trading.

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