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Brent crude oil price chart showing sharp rise to $100.886 amid Iran's threat to block Strait of Hormuz

Brent Crude Holds at $96: Iran Threatens US with Strait of Hormuz Blockade

Economy 06/01/2026, 20:10
Brent crude is trading in the range of $93–$96 against the backdrop of Iran's threat to block the Strait of Hormuz. Tehran has ceased diplomatic exchanges with the US, which caused a price spike of 5–7% in a day. Analysts from J.P. Morgan and the World Bank warn: further dynamics depend on the stability of supplies through the strait. ⚠️📉🛢️
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