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Line chart of WTI crude oil prices surging after a tanker attack in the Strait of Hormuz, August to September 2026.

WTI crude has surged since Iran's attack on the Saudi-flagged tanker Sidr in the Strait of Hormuz, which killed two crew members and cut vessel traffic through the strait to 10 ships a day from roughly 130 before the wider conflict intensified. War-risk insurance on a single transit has climbed from 1 to 3% of a tanker's hull value to as much as 10%, adding an estimated $21 million per voyage. Analysts still consider a full blockade a tail risk rather than the base case.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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