Brent for June delivery rises to $115.43 amid Strait of Hormuz impasse

21 articles · Updated · MarketWatch · Apr 29

Brent crude futures surged to $115.43 a barrel on Wednesday as oil tankers remain stalled in the Strait of Hormuz, with West Texas Intermediate also rising over 3%.
President Trump escalated rhetoric against Iran, while U.S. Energy Secretary Chris Wright suggested the crisis could push Iran back to negotiations. The UAE's OPEC exit is overshadowed by its export limitations.
Analysts focus on upcoming U.S. inventory data and peace talks for further direction, as the ongoing blockade tightens global energy markets and raises concerns about prolonged high prices and potential stagflation.

With Hormuz blocked, how can the UAE's OPEC exit impact global oil supply?

Why is physical oil $40 more expensive than futures contracts amid the crisis?

What long-term geopolitical shift does the UAE’s departure from OPEC signal?

How does the Hormuz blockade threaten global food and high-tech supply chains?

As the US and Iran blockade each other, what prevents a wider military conflict?

Can Venezuelan oil realistically replace the millions of barrels lost from the Gulf?