Brent oil price tops $85 amid US‑Iran Hormuz tensions

U.S. President Donald Trump re‑imposed a naval blockade of the Strait of Hormuz and announced a 20 % fee on all cargoes passing through the waterway, reviving the dispute with Iran.

Iran’s Revolutionary Guard responded with drone and missile attacks on U.S. military facilities in Kuwait and a ballistic‑missile strike on a U.S. warship, while also targeting U.S. bases in Bahrain and Jordan.

The heightened confrontation pushed Brent crude above $85 per barrel – its highest level in a month – up roughly 2‑3 %, and lifted West Texas Intermediate by a similar margin. The price surge added to global inflation worries and contributed to declines in major equity indices.