Oil prices hit six-week high as US-Iran strikes disrupt Strait of Hormuz

Oil prices surged to six‑week highs on Tuesday after a series of U.S. and Iranian strikes disrupted vessel traffic in the Strait of Hormuz, the narrow waterway through which roughly a fifth of global petroleum shipments pass. Brent crude rose to $84.20 a barrel and U.S. West Texas Intermediate climbed to $80.45, both levels not seen since early August, as traders priced in the risk of delayed deliveries and potential supply constraints.

The strikes, which targeted Iranian naval facilities and were followed by Iranian missile launches against commercial shipping, prompted several tankers to reroute or halt transit pending safety assessments. The International Maritime Organization reported a temporary reduction of about 1.2 million barrels per day in the flow through the strait, intensifying concerns about tightening markets. Analysts noted that while the disruptions appear localized, the heightened geopolitical tension could sustain elevated price levels until traffic normalizes or diplomatic channels de‑escalate the conflict.