Live Feeds
● LIVE Updated 1h ago · 27 sources tracked

Oil Prices Jump After Attack Halts Shipping in Strait of Hormuz

Oil prices have retreated to levels seen before the February war in Iran as tanker traffic in the Strait of Hormuz rebounds. This decline follows a brief price spike caused by an Iranian attack on a cargo vessel. Markets are now focusing on a potential near-term supply glut.

RSS Source map (19)

What changed

Prices erased wartime gains as shipping resumed and the impact of a recent cargo ship attack faded.

Live updates

  1. Oil Prices Return to Prewar Levels as Hormuz Shipping Resumes

    Oil prices have retreated to levels seen before the February war in Iran as tanker traffic in the Strait of Hormuz rebounds. This decline follows a brief price spike caused by an Iranian attack on a cargo vessel. Markets are now focusing on a potential near-term supply glut.

    What's confirmed:

    • Oil prices returned to levels not seen since the war in Iran began in February.
    • Tanker traffic in the Strait of Hormuz has resumed.
    • An Iranian attack on a cargo ship caused oil prices to rise and forced the UN to halt evacuation plans.
    • The cargo ship attacked in the Strait of Hormuz was the Ever Lovely.

    Still unconfirmed:

    • Vessels using unauthorized paths are not guaranteed safe passage by Iran's Revolutionary Guard.
    • A vessel was hit near Oman while shipments resumed.
    confidence 90%