Gotrade News - Brent crude surged nearly 5% to $99.39 per barrel on Thursday as tanker traffic through the Strait of Hormuz remained severely disrupted. ExxonMobil and other energy stocks rose on the commodity price spike.
Key Takeaways:
- Brent crude gained $4.46 or 4.7% to $99.39 while WTI rose 3.7% to $94.69 per barrel
- ING estimates approximately 13 million barrels per day face disruption from Hormuz access issues
- US-Iran ceasefire expires April 21, European leaders estimate full negotiations could take 6 months
West Texas Intermediate (WTI) climbed $3.40 or 3.7% to $94.69 per barrel as supply risks escalated. The US-Iran conflict has entered its 50th day and continues to disrupt global oil supply chains.
ING analysts estimate approximately 13 million barrels per day face disruption due to Strait of Hormuz access issues. US crude oil inventories declined by 913,000 barrels last week, contrary to analyst expectations for a 154,000-barrel increase.
Only a handful of oil tankers transit the strait daily as the US Navy maintains a blockade of Iranian waters. Iran has threatened retaliation against vessels in the Persian Gulf in response.
Uncertain Path to Resolution
The two-week US-Iran ceasefire is set to expire on April 21. President Trump expressed optimism about a permanent deal, but Iran has not publicly confirmed accepting the terms he claims were agreed upon.
European and Gulf Arab leaders estimate full negotiations could require approximately six months. PVM analyst John Evans noted that "positive signals often contrast with contradictory developments, creating persistent uncertainty."
Sources:
- Kabar Bursa, Disrupsi Selat Hormuz bikin Minyak Mendidih Hampir 5 Persen, 2026
- Bloomberg Technoz, Harga Minyak Turun Saat Trump Optimistis soal Kesepakatan Iran, 2026
- Liputan6, Harga Minyak Dunia Kembali Dekati USD 100, 2026
