Heightened fears of Strait of Hormuz supply disruption push Brent up nearly 5%
Energy
May 11, 2026
Oil prices jumped nearly 5%, with Brent above $105 a barrel and WTI hitting $100.20 amid heightened Gulf tensions.
US President Donald Trump dismissed Iran’s response as “totally unacceptable”m intensifying fears over Middle East supply risks.
The effective closure of the Strait of Hormuz and attacks on energy sites have driven about a 40% price surge since February 28.
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.
The oil price reached nearly $120 a barrel on Monday over fears of lengthy disruption to supplies.
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