WS Investor
19 Aug 2026, 09:08
Brent Crude Holds Above $91 as Hormuz Uncertainty Supports Oil Prices
Brent crude remained above $91 per barrel on Wednesday as persistent uncertainty surrounding the Strait of Hormuz and the U.S.-Iran conflict continued to support global oil prices.
Brent futures were trading around $91.31, up 0.32%, extending their five-day gain to approximately 2.6%. Prices have climbed to their highest levels since late July as traders continue to price a geopolitical risk premium into crude.
Strait of Hormuz Remains the Key Risk
The central driver remains uncertainty over shipping through the Strait of Hormuz. Before the conflict, roughly one-fifth of global oil and LNG supplies passed through the Strait. Political signals have remained contradictory. U.S. President Donald Trump said Tuesday that no talks were taking place with Iran and maintained that the Strait was open. Iran, however, said the waterway would remain closed until the U.S. meets conditions including lifting oil sanctions and its blockade of Iranian ports.
Any progress toward restoring normal shipping could remove some of Brent's geopolitical premium, while further disruption or escalation in the U.S.-Iran conflict could push prices higher again.
Brent crude remained above $91 per barrel on Wednesday as persistent uncertainty surrounding the Strait of Hormuz and the U.S.-Iran conflict continued to support global oil prices.
Brent futures were trading around $91.31, up 0.32%, extending their five-day gain to approximately 2.6%. Prices have climbed to their highest levels since late July as traders continue to price a geopolitical risk premium into crude.
Strait of Hormuz Remains the Key Risk
The central driver remains uncertainty over shipping through the Strait of Hormuz. Before the conflict, roughly one-fifth of global oil and LNG supplies passed through the Strait. Political signals have remained contradictory. U.S. President Donald Trump said Tuesday that no talks were taking place with Iran and maintained that the Strait was open. Iran, however, said the waterway would remain closed until the U.S. meets conditions including lifting oil sanctions and its blockade of Iranian ports.
Any progress toward restoring normal shipping could remove some of Brent's geopolitical premium, while further disruption or escalation in the U.S.-Iran conflict could push prices higher again.
