WTI Surges as Hormuz Traffic Craters to Just Four Ships

WTI is pushing higher as the Strait of Hormuz chokepoint sees vessel traffic crater to a mere four ships following the deadly attack on the Saudi-owned Sidr tanker. Two Filipino crew members were killed, and Riyadh has formally accused Tehran of the strike, adding fresh geopolitical premium to crude pricing.

The escalation comes as Iran launches a fresh wave of missile and drone strikes against U.S. bases across the region, intensifying fears of a broader supply disruption through one of the world's most critical oil transit corridors.

With roughly a fifth of global seaborne oil normally passing through Hormuz, traders are pricing in elevated risk premium into WTI futures, with volatility likely to persist as the conflict shows no signs of near-term de-escalation.