Oil prices rose sharply this week as uncertainty continued over efforts to secure shipping routes through the Strait of Hormuz, a key corridor for global oil supply.
Brent crude climbed to $103.42 per barrel, while US crude settled near $96, as traders reacted to doubts about a coordinated response from United States allies. President Donald Trump said some NATO partners remain reluctant to join a US-led effort to escort tankers in the region, raising questions about how quickly such a plan could take shape.
The strait, which lies between Iran and Oman, handles a significant share of the world’s oil shipments. Attacks on vessels in recent weeks have disrupted traffic, with fewer tankers passing through the route. Analysts say the scale of the disruption has made it difficult for markets to stabilize.
Warren Patterson, head of commodities strategy at ING, noted that proposed measures such as naval escorts and insurance guarantees have yet to materialize. He added that escort missions could expose military ships to further risk, which may delay any large-scale response.
In 2025, about 13 million barrels of oil per day moved through the strait, accounting for nearly a third of global seaborne crude flows. With tensions still high, traders continue to watch developments closely, as any prolonged disruption could push prices even higher.
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