Oil Prices Rise as Hormuz Traffic Remains at Historic Lows

Oil prices have seen an increase in recent days as tanker traffic through the Strait of Hormuz remains significantly lower than pre-conflict levels. According to traders, Brent crude added 0.58% to reach $88.35, while WTI increased 0.22% to $82.41.

The current level of tanker traffic is 77% below the average daily flows seen prior to the conflict, which reached 21.6 million barrels per day in late 2025. In contrast, the second quarter saw an average of just 4.9 million barrels per day passing through the strait.

Despite this, oil prices have been able to recover somewhat from initial declines on Thursday, with Brent crude bouncing back up 51 cents to $88.35 per barrel and West Texas Intermediate increasing by 18 cents to $82.41 at 1005 GMT.