Brent Crude Tops $105 as Hormuz Tanker Attacks Intensify
Brent crude has risen above $105 a barrel as attacks on tankers in the Strait of Hormuz intensify. Disruptions to the strategic waterway are adding pressure to global energy supplies and costs.
Oil tanker attacks in the Strait of Hormuz have intensified as Brent crude prices climb above $105 a barrel amid the US-Iran conflict. Photo: EFE
October 12, 2026 Hour: 3:59 am
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Attacks on oil tankers have reached their highest level since the U.S.-Iran conflict began, heightening concerns over global energy supplies.
Brent crude has climbed above $105 a barrel as escalating attacks on oil tankers in the Strait of Hormuz compound fuel shortages linked to the ongoing U.S.-Iran conflict, keeping global oil prices elevated.
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Attacks on tankers transiting the strategic waterway reached their highest level since the conflict began last week. Several vessels also caught fire this week while attempting to cross the strait, according to the press release.
Brent crude approached $104 a barrel on October 9 before rising above $105, putting further pressure on energy-dependent economies across the Global South.
The Strait of Hormuz carries about one-fifth of the world’s oil, making disruptions to shipping through the waterway a major concern for global energy supplies. Instability in the strait can also drive up the cost of fuel, food and transportation worldwide.
The conflict began with U.S. and Israeli attacks on Iran. Tehran subsequently responded by blocking the strait, turning the waterway into a focal point of the confrontation.
U.S. President Donald Trump has claimed on social media that oil traffic through Hormuz has reached record levels without Iranian involvement. He has cited a figure of 22 million barrels of oil moving through the strait.
The Iranian government has repeatedly disputed those figures. Meanwhile, crude prices remain elevated amid continuing disruption, in contrast with Trump’s claims about the volume of oil moving through the waterway.
With tanker attacks continuing and Brent crude trading above $105 a barrel, the Strait of Hormuz remains a critical pressure point for global energy markets as the U.S.-Iran conflict persists.
