Iran Conflict Pushes Brent Crude Past $90 as Strait of Hormuz Remains Disrupted

The conflict between the US and Iran has reached a stalemate, pushing Brent crude prices to approximately $90 per barrel. The six-month-old hostilities have shifted from active kinetic operations to a sustained campaign of economic pressure.

The Strait of Hormuz, a critical maritime chokepoint, remains severely disrupted. Crude oil exports from the Gulf region have declined by nearly 50% since the conflict began. This supply constraint has kept Brent crude oil prices hovering near $90 per barrel, a significant increase from the average levels seen in 2025.

The situation is drawing comparisons to the energy supply challenges of the 1970s, as global energy markets grapple with the uncertainty of sustained disruptions. Indian investors are particularly affected due to India's high dependence on imported crude oil. Elevated oil prices put pressure on the country's current account deficit and the value of the Indian Rupee.