Brent Crude Near $111 on Hormuz Blockade Fears

Brent crude for July closed above $111 a barrel and US benchmark West Texas Intermediate traded near $106, locking in a roughly 12% gain for the week. That is one of the sharpest weekly moves in oil prices in recent memory. The jump is tied to rising fears of a disruption in the Strait of Hormuz, a narrow waterway through which roughly a fifth of the world's oil supply flows, after President Trump doubled down on the possibility of a blockade. A Hormuz closure, even a partial or temporary one, would immediately tighten global crude supply since there is no easy alternative route for Gulf oil exporters. Higher oil prices feed directly into fuel costs, freight rates, and eventually consumer prices across most major economies. Traders and policymakers will be watching any further signals from Washington or the Gulf region closely, as even the threat of disruption has already repriced energy markets significantly this week.