US‑Iran clashes lift Brent crude toward $80 a barrel
Escalating attacks between the United States and Iran over the Hormuz Strait have driven international oil prices higher. Brent crude, the European benchmark, rose more than 4 % to near $80 per barrel, while U.S. West Texas Intermediate gained roughly 4 % to about $74‑$75. Both sides have exchanged air‑strike waves targeting military facilities in the Gulf region, and Iran’s Revolutionary Guard has announced the strait’s closure, a claim the U.S. Central Command disputes.
Shipping traffic through Hormuz fell to its lowest level in five weeks, with only a handful of tankers recorded transiting the waterway. The price jump boosted European energy‑sector stocks, as companies such as OMV, Repsol, TotalEnergies and Shell posted gains. Analysts note the surge adds a war‑risk premium to oil, feeding concerns over global inflation and tightening monetary policy.
The market focus now shifts to upcoming U.S. jobs data, earnings reports and potential OPEC+ output decisions, while the outlook for the Strait of Hormuz remains uncertain.