Brent crude rebounds to close in positive territory after early dip on Gulf supply reports

Oil prices staged a mid-session recovery on Friday, erasing early losses triggered by reports of increased tanker departures from the Persian Gulf. The move underscores the persistent volatility in energy markets as geopolitical risk premiums remain elevated following the benchmark's breach of the $100-a-barrel threshold earlier in the month.

By Handelsavisen Newsroom · Automated 2026-07-31 14:08 UTC · 1 min read

Brent crude futures finished the session in positive territory on Friday, reversing an early decline that had weighed on the market.

The benchmark initially sold off on reports of rising shipping volumes out of Persian Gulf production hubs, which briefly alleviated fears of immediate supply disruption.

This dynamic has kept the benchmark well above the $100-a-barrel level, a threshold it breached earlier in July for the first time since May.

However, the selling pressure proved short-lived as traders returned to pricing in the ongoing geopolitical risks surrounding the Strait of Hormuz.

The intraday volatility highlights the fragile balance in oil markets.

While physical supply flows from the Gulf appear to be holding, the threat of disruption remains a dominant driver of price action.

This dynamic has kept the benchmark well above the $100-a-barrel level, a threshold it breached earlier in July for the first time since May.