WTI Nears $100 as Hormuz Standoff Enters Seventh Month
Created on
Last updated
Crude oil WTI is grinding higher toward the psychologically critical $100 per barrel level as the Strait of Hormuz standoff drags into its seventh month with no resolution in sight. Shipping traffic through the chokepoint remains disrupted, forcing tankers into dark transits and shuttle-shipping workarounds.
Persian Gulf producers outside Iran have clawed back output to roughly two-thirds of pre-war levels, but that recovery has not been enough to fully offset the risk premium baked into WTI pricing. Washington's intensified economic pressure on Tehran, including fresh sanctions on financial intermediaries, adds another layer of supply-side uncertainty that traders are pricing into the front-month contract.