Brent crude rose to $108.02 per barrel on Monday, up 2.55% from the previous session, as tensions around the Strait of Hormuz continued to squeeze global oil supply.
The price movement reflects a market still reacting to uncertainty rather than resolution. The Strait of Hormuz, one of the world’s most important oil transit routes, remains heavily restricted, keeping supply tight and traders cautious.
Over the past month, Brent has inched up by 0.59%, but the bigger picture shows a sharper climb, prices are now 66.72% higher than they were a year ago, underscoring how sustained the pressure on energy markets has become.
Efforts to ease the situation have yet to produce results. Talks between the United States and Iran remain stalled after negotiations were suspended, with both sides holding their ground.
The International Energy Agency has warned that disruptions of this scale could rank among the most significant in recent history, with implications that go beyond energy markets, feeding into inflation and broader economic uncertainty.
There are still signs of possible movement. Iran is reported to have put forward a proposal through intermediaries aimed at reopening the strait and easing tensions, but for now, no agreement has been reached.
Brent crude once peaked at $147.50 per barrel in 2008. Today’s prices are lower than that, but they still reflect a market under strain, watching closely, waiting for clarity, and responding to every shift in the balance between conflict and compromise.
