Oil Back in Focus: Can Brent Break Above $90?

Crude oil prices are pushing higher as renewed attacks on tankers raise fresh concerns over supplies through the Strait of Hormuz.

Brent climbed to around $88.5 a barrel last week, gaining nearly 6%, while WTI rose more than 5%. Prices remain near recent highs as shipping through the key waterway slows.

The latest attacks on vessels operated by ADNOC have added to market concerns. Only a small number of commodity vessels passed through the strait over the weekend, compared with much higher traffic previously.

For oil traders, the key issue is whether supply can continue moving smoothly.

If shipping disruptions persist, Brent could face renewed upside pressure, particularly if buyers begin to worry about tighter physical supplies.

But the market is also watching the other side of the equation. Weak global demand and alternative supply routes could limit how far crude prices can rise, keeping the outlook highly sensitive to new developments.

For now, $90 is the key psychological level for Brent.

A sustained move above it could signal stronger supply concerns, while easing tensions or improving shipping flows could take some of the risk premium out of oil prices.

For traders, every new development around the Strait of Hormuz could quickly translate into another move in crude oil.