Hormuz Tensions Fuel Shipping Uncertainty Amid Rising Crude Prices

Tensions in the Strait of Hormuz have continued to impact shipping and oil markets. Diplomatic channels fell silent this week, and vessel movements grew quieter as negotiations between Washington and Tehran aimed at ending the conflict remain at an impasse.

The US maintains full command over the passage, while its administration readies broader sanctions and stricter enforcement of the blockade. Despite five months of military strikes, Iran continues to use its unratified corridor framework for shipping.

Crude prices climbed for five straight sessions through Wednesday, reaching near USD 81.10 for WTI and roughly USD 86.96 for Brent. However, they dropped 2.5% on Thursday, leaving them about 5% higher for the week.