Oil prices traded higher for a fourth straight session on Wednesday to hit a three-week high after reports suggested that most shipowners are avoiding the Strait of Hormuz because of a lack of clear signals on its reopening.
According to Kpler data, six commodity vessels crossed the strait Tuesday, down from nine on Monday and below the 10-day average of 11 vessels.
Brent crude futures jumped more than 1 percent to $91.95 a barrel after a bulk carrier was struck by an unknown projectile while transiting the Strait of Hormuz, raising the prospect of ongoing disruptions to supply.
Subscribe to continue reading the article.
This article is available exclusively to RTT Biotech Investor and Intelligent Investor subscribers. Subscribe with a RTTNews subscription.
Start Free Trial
FREE 7-Day Trial – No Payment Required
Oil Prices Hover Near Three-week High As Hormuz Risks Mount
2026-08-19 09:35:00
