Extending the sharp gains from Friday’s session, crude oil prices have catapulted on Monday as expectations of an early reopening of the Strait of Hormuz began to fade following several preconditions put forth by Iran to the U.S. and the counter-demands by U.S. President Donald Trump, which have increased concerns of re-escalation in the gulf.
WTI Crude Oil for September month delivery was last seen trading up by $4.07 (or 5.21%) at $82.25 per barrel.
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Market Analysis
Crude Oil Skyrockets Amid Heightening Uncertainty Over Strait Of Hormuz Reopening
2026-08-10 18:38:28
