Global oil prices climbed sharply on Friday after shipping concerns in the Strait of Hormuz intensified market uncertainty. The gains marked the strongest monthly performance for crude benchmarks since March and reflected rising geopolitical risks.
Brent crude rose 1.2 percent and settled at $90.12 per barrel. Meanwhile, U.S. West Texas Intermediate crude increased 1.3 percent to reach $84.67 per barrel. Brent gained about 24 percent during July. WTI advanced roughly 21 percent over the same period.
The latest rally followed reports that several oil tankers delayed departures or changed planned routes near the Strait of Hormuz. Shipping companies reviewed navigation risks as regional security conditions remained uncertain. Consequently, investors increased attention on possible supply disruptions.
The Strait of Hormuz remains one of the world’s most important energy shipping routes. It connects the Persian Gulf with international waters through the Gulf of Oman. Around one-fifth of global oil consumption normally passes through this narrow waterway every day.
The ongoing conflict involving Iran has significantly reduced commercial shipping through the strategic passage. At the same time, security threats near the Bab el-Mandeb Strait created additional challenges for tanker operators. Therefore, several companies reconsidered planned voyages across regional shipping lanes.
Higher security risks also increased insurance premiums for commercial vessels. As a result, transportation costs continued rising across international energy markets. Shipping delays further increased concerns about slower crude deliveries during coming weeks.
Energy traders responded quickly by increasing purchases of crude futures contracts. Consequently, stronger demand pushed oil prices higher throughout Friday’s trading session. Investors continued seeking protection against possible supply shortages.
Market analysts said financial markets remain extremely sensitive to disruptions affecting major shipping corridors. Even limited interruptions can influence oil prices because traders rapidly adjust supply expectations. Therefore, geopolitical developments continue driving market sentiment.
Industry experts also noted that global crude inventories remain relatively balanced. However, they warned that extended shipping disruptions could tighten supplies quickly. Reduced exports from major Gulf producers would likely increase upward pressure on prices.
Oil-producing countries and international shipping companies continue monitoring regional security conditions closely. Many operators have updated voyage plans and strengthened maritime risk assessments. They also increased coordination with security providers to protect commercial vessels.
Looking ahead, investors will closely watch tanker movements and export volumes across the Gulf. They will also monitor regional security developments and shipping activity carefully. If traffic improves, price volatility could gradually decline. However, additional disruptions may keep oil markets under pressure in the coming weeks.