Oil prices have surged past the $100 mark, defying United States claims that it is successfully clearing shipping traffic in the Strait of Hormuz. Brent crude rose $3.21 to $107.82 per barrel, while West Texas Intermediate gained $3.17 to $103.22, driven by recent attacks on vessels in the strait and damage to Saudi energy infrastructure.
US Energy Secretary Chris Wright stated on Sunday that approximately 10 million barrels of oil per day are now passing through Hormuz, representing two-thirds of pre-conflict flows. President Donald Trump echoed these sentiments, asserting that American forces maintain
Gas prices in the US are going to hurt even more if this continues. Good luck with that narrative.
How long can they claim success when attacks keep escalating? The data doesn’t lie.
I was surprised to see such a sharp spike despite these official statements. Something feels off here.
The market clearly disagrees with the administration’s optimism. Prices speak louder than press releases.