Oil Prices Surge on Fifth Day Amid US-Iran Conflict and Strait of Hormuz Blockade - News and Statistics

Apr 25, 2026

Oil prices have risen for five consecutive days, marking the longest streak of gains since January, according to a Bloomberg report published on April 25, 2026. The increase is driven by uncertainty surrounding negotiations between the United States and Iran, which threatens to further impede flows from the Persian Gulf.

Brent crude exceeded $106 per barrel and was on track for a weekly gain of approximately 18%, while West Texas Intermediate traded near $97. The current President of the United States, Donald Trump, has made posts on his social media platform Truth Social and continued a naval blockade of Iranian ports. Two US officials familiar with the matter indicated that these actions have hindered mediation efforts conducted through intermediaries such as Pakistan.

The conflict has unsettled energy markets since it began in late February, with the near-closure of the Strait of Hormuz substantially reducing shipments from major oil and gas producers in the Persian Gulf. Fresh worries that peace talks have stalled, an escalation of rhetoric, and growing military threats have added to the geopolitical risk premium in oil prices.

A director at the Center for Strategic and International Studies, Mona Yacoubian, stated that the longer the situation persists, the clearer it becomes that the conflict’s disruptive effects will resonate for months or longer. She suggested that the disruption may be so profound that the paper market will eventually align with the reality of constrained supply and its implications for physical markets.

Futures rose in Thursday’s session after the President stated on social media that he had instructed the US Navy to target boats laying mines in the Strait of Hormuz. Separately, American forces boarded a supertanker carrying Iranian oil in the Indian Ocean as part of the navy’s intensified blockade of the Islamic Republic’s shipping.

Traffic through the Strait of Hormuz remained largely halted, with only occasional movements by vessels linked to Iran breaking the inactivity. Efforts to restart talks between Washington and Tehran remain deadlocked on several other key issues, including Iran’s nuclear capabilities and Israeli strikes on Lebanon. The President also posted on social media that the ceasefire in Lebanon has been extended by three weeks.

Analysts at Goldman Sachs Group Inc., including Daan Struyven, said in a note dated April 23 that restoring most crude oil production in the Persian Gulf would take a few months, assuming the Strait of Hormuz fully reopens and no further strikes occur. The bank estimates that output has been reduced by approximately 14.5 million barrels per day, representing a cut of more than 50% in April.

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