Oil Prices Rise Following Shipping Attacks in Strait of Hormuz
Key Facts
Oil prices rose from two-month lows following attacks on shipping in the Strait of Hormuz. JournalArta reported that Brent crude had previously fallen approximately 17% over five trading days to trade just above $91 per barrel before this rebound.
Renewed geopolitical friction in the Persian Gulf and high insurance premiums provided a floor for prices, countering bearish sentiment driven by increased exports and earlier hopes for de-escalation. The market remains caught between supply risks in the waterway and the downward pressure observed in recent sessions.
Latest Updates · 1
- Notable·
Update: Oil prices rose 1% on November 11, 2026, after Iran rejected a U.S. demand to transfer enriched uranium out of the country. This rejection added a new layer of geopolitical tension to existing supply concerns, supporting crude's gains in recent sessions.