Brent Oil - Crude Oil Rally: Brent near $97, WTI up nearly 10% in a week — What’s behind the surge?
07-09-2026 02:48
Crude oil prices extended gains on Monday as fresh strikes between the United States and Iran on oil tankers and vessels raised concerns. Brent crude futures rose 52 cents, or 0.54 per cent, to USD 96.
Brent edges toward $100 as Hormuz shipping data point to tighter crude flows
For oil prices, shipping data now matter as much as military developments. A sustained improvement in Hormuz traffic could strip some risk premium from Brent and WTI. Further attacks or another drop in vessel flows would instead keep Brent close to the $100 threshold and WTI firmly above $90.
