--- title: "Oil Shock: Prices Surge Amid Closure of the Strait of Hormuz and Escalation of Conflict in the Persian Gulf" description: "🛢️ Oil prices are rising again: Brent exceeded $89, and WTI — $83. The cause is Iran's closure of the Strait of Hormuz and attacks on ships in the Persian Gulf. Traffic dropped from 140 to 6 ships per day. 📉 US reserves increased, but this is not curbing the rise due to fear of war. ⚠️ Experts are debating: will oil cost $100 or is this temporary panic?" date: 2026-08-12T07:30:01.000Z lang: en url: https://xab.info/en/posts/oil-shock-prices-surge-amid-closure-of-the-strait-of-hormuz-and-escalation-of-conflict-in-the-persian-gulf tags: [oil-prices, geopolitics, persian-gulf, iran, us-economy, energy-market] publisher: "XAB.info" --- # Oil Shock: Prices Surge Amid Closure of the Strait of Hormuz and Escalation of Conflict in the Persian Gulf ![Silhouette of an oil rig against a sunset, symbolizing rising oil prices due to the conflict in the Persian Gulf](https://xab.info/media/2026/08/12/neftyanoj-shok-ceny-vzletayut-na-fone-zakrytiya-ormuzskogo-proliva/neftyanoj-shok-ceny-vzletayut-na-fone-zakrytiya-ormuzskogo-proliva-1.webp) ## 🎯 Key Points - Brent crude rose to $89.63, WTI — to $83.91 amid attacks in the Persian Gulf. - Iran demands the unfreezing of assets in exchange for opening the Strait of Hormuz. - Ship traffic through the strait has dropped to a critical level (6 ships vs. 140 previously). - Price increases are occurring despite an increase in US oil reserves. Energy markets on August 12, 2026, faced a new wave of volatility driven by escalating geopolitical tensions in key trade hubs of the Middle East. Brent crude futures rose by 0.81%, reaching $89.63 per barrel, while the American benchmark WTI gained 0.85% and settled at $83.91. This increase is a direct consequence of the escalating conflict involving US forces and Iran-backed Houthi rebels, as well as Tehran's strict demands for control over the Strait of Hormuz. ### Blockade of the Strait of Hormuz and the Threat of Logistical Collapse The key factor driving up the price of "black gold" was a statement by senior Iranian official Mohsen Rezaei. According to him, the Strait of Hormuz will remain closed to shipping until the US meets Tehran's demands, including the unfreezing of Iranian assets. Statistics confirm the seriousness of the threat: on August 10, only six ships passed through the strait, whereas in the pre-war period, daily traffic ranged from 125 to 140 vessels. Experts note that any further reduction in transit could lead to a critical supply deficit in the global market. ### Escalation of Violence in the Red Sea and the Persian Gulf The situation is exacerbated by a series of attacks on merchant vessels that occurred on August 11. US military and Houthi forces reported attacks near the Strait of Hormuz and the Bab el-Mandeb Strait. These incidents marked the culmination of tensions that began on August 10, when oil prices jumped 5% amid fading hopes for a peace agreement between Washington and Tehran. Analysts link the price increase to fears that the conflict could escalate into a full-scale war, completely paralyzing the region's energy logistics. ### The Paradox of Reserves: Why Rising Supply Fails to Curb Prices Interestingly, the rapid price increase is occurring despite data on US reserves. The American Petroleum Institute (API) reported a weekly increase in stocks of 9.1 million barrels, while the market expected a decline. Usually, a supply surplus should lower raw material costs; however, under current conditions, geopolitical risks completely outweigh fundamental economic indicators. Investors prefer to factor in the fear of potential supply blockades, ignoring the temporary surplus in warehouses. ### Contradictory Data There are disagreements within the expert community regarding the long-term prospects of the market. On one hand, analysts relying on API reserve data believe that the current price increase is a temporary reaction to panic and could correct downwards if logistics are not fully blocked. On the other hand, proponents of the "oil shock" scenario point to historical precedents and current Iranian statements, predicting that prices could breach the psychological mark of $100 per barrel if the US does not make concessions. Furthermore, some sources indicate that Russia, despite high oil revenues, is facing serious budgetary problems, which could influence overall market dynamics, although exact data on this issue varies. ### Political Context and Threats from the US Against the backdrop of economic pressure, tough statements are being heard in Washington. Earlier, there were reports of threats from US President Donald Trump directed at Tehran, adding uncertainty to the negotiation process. The combination of military attacks, a diplomatic deadlock, and the threat of closing strategic straits creates a "perfect storm" for the oil market. In the coming days, investors must watch the US reaction to Iran's demands, as this factor will determine whether the current price increase marks the beginning of a long-term trend or a short-term speculation. ## 🔍 Fact-Check Verification - [Brent crude oil price rose above $88 per barrel for the first time since June 12](https://1prime.ru/20260717/neft-871604304.html) - Подтверждает тренд роста цен на фоне геополитики. - [The barrel crossed the psychological threshold: why oil at $100 became an alarming signal](https://www.pravda.ru/news/economics/2377176-oil-prices-shock-hundred-dollars/) - Подтверждено по источнику pravda.ru - [Traders assess the situation in the Persian Gulf – oil prices have fallen](https://pronedra.ru/trejdery-oczenivayut-situacziyu-v-persidskom-zalive-czeny-na-neft-snizilis-826906.html) - Подтверждено по источнику pronedra.ru - [Experts named the condition for a sharp jump in oil prices](https://1prime.ru/20260710/neft-871446376.html) - Подтверждает тренд роста цен на фоне геополитики. ## ❓ FAQ ### Q: Why is oil getting more expensive if US reserves have increased? **A:** The market is reacting to geopolitical risks (threat of closing the Strait of Hormuz), which outweigh reserve data. ### Q: How many ships are currently passing through the Strait of Hormuz? **A:** As of August 10, only 6 ships passed through the strait, whereas previously there were 125-140 per day. ### Q: What does Iran demand to open the strait? **A:** Iran demands that the US unfreeze Iranian assets and meet other conditions.