Crude oil prices maintained their recent gains on Thursday as traders recalibrated risk models following a reported attack on a ship in the Strait of Hormuz.
The incident has reignited concerns about the security of one of the world’s most critical energy chokepoints, overshadowing earlier optimism regarding diplomatic efforts to end the regional conflict.
Brent crude futures held steady in the session, reflecting a market that is pricing in persistent supply disruption risks.
While the waterway had seen open transit following early progress toward a lasting peace agreement, the latest violence suggests that the path to normalized shipping flows remains fraught with uncertainty.
Traders are now balancing the potential for renewed diplomatic breakthroughs against the tangible threat to tanker routes.
The Strait of Hormuz handles a significant portion of global oil flows, making any disruption a direct threat to energy supply chains.