Brent Tops $106

Brent crude futures climbed more than 4% to around $106 per barrel on Thursday, marking the 4th staright session of gains, as Middle East hostilities escalated, the Strait of Hormuz remained closed, and no clear timeline emerged for the resumption of talks. Air defense systems were reportedly activated in parts of Tehran today amid signs of hostile aerial activity. Earlier, US President Trump ordered the US Navy to target any vessels laying mines in the Strait and pledged to intensify efforts to secure the waterway. Ceasefire talks were extended indefinitely as the US awaited a new formal proposal, while the blockade remained in effect. Iran signaled no immediate willingness to negotiate under continued US naval restrictions on its ports. The standoff has already led to US interceptions of Iranian tankers, while Tehran has tightened its control over the Strait of Hormuz. The disruption has curtailed flows from key Gulf producers, further tightening global oil supply.

Brent Crude Oil increased 5.02% to 107.027 USD/Bbl

Brent crude futures climbed to around $103 per barrel on Thursday, extending gains for a 4th consecutive session as tensions between the US and Iran persisted, with both sides locked in a standoff over Hormuz. US President Trump ordered the US Navy to target any vessels laying mines in the Strait and pledged to intensify efforts to secure the waterway. Earlier, he extended the ceasefire indefinitely while awaiting a new proposal, even as the blockade remained in place. Iran however, signaled no immediate willingness to negotiate under ongoing US naval restrictions on its ports. The blockade has led the US to intercept Iranian tankers, while Tehran has reinforced its control over the Strait. The conflict has disrupted flows from Gulf producers, tightening global supply. Despite the standoff, demand for US exports has strengthened, supported by declining domestic fuel inventories, as global markets increasingly rely on American supply to offset disruptions in the Middle East.