Brent crude rises as attacks curb hopes for Strait of Hormuz reopening

Brent crude futures rose on Tuesday, gaining roughly $2.80 per barrel to trade near $84, as renewed violence in the Red Sea corridor and heightened tensions in the Middle East dampened market optimism for a swift return to stability. Traders cited reports of attacks on commercial shipping and the threat of broader regional escalation, which could constrain oil supplies from key exporting nations and disrupt the flow of petroleum products through one of the world’s busiest maritime routes.

Analysts noted that the price increase reflects lingering uncertainty despite recent declines in global demand and OPEC’s efforts to balance output. While inventories in major consuming countries remain elevated, the prospect of further supply interruptions is prompting investors to reassess risk premiums. Market participants expect volatility to persist until diplomatic efforts produce a tangible de‑escalation, leaving the outlook for energy markets cautiously guarded.