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Line chart of WTI crude oil daily closing prices through August and into September 2026 amid Strait of Hormuz tensions.

WTI crude rose 2.3% Tuesday to $87.75 a barrel after two tankers were struck by projectiles in the Strait of Hormuz late Monday, the first direct US-Iran exchange in over a month. Weekly transits through the strait have fallen to roughly 107 from a pre-war norm of 130, on a route carrying close to 20% of global oil supply. The conflict is now six months old, tracing back to February 28 strikes that briefly pushed Brent above $126 in March.

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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