Oil prices rose more than $2 a barrel on Thursday, June 11, after Iran announced the closure of the Strait of Hormuz following additional U.S. strikes on Iranian targets, prompting renewed concerns about supply disruptions in a key shipping route.
Brent futures increased $2.30, or 2.47%, to $95.40 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed $2.60, or 2.89%, to $92.63. U.S. crude futures had surged by more than $3 earlier in the trading session.
Iran’s top joint military command said the Strait of Hormuz — a critical energy chokepoint through which a significant share of the world’s oil passes — was closed to oil tankers and commercial ships and warned that any vessel attempting passage would be fired upon.
The U.S. military, however, posted on X on Wednesday that commercial ships continued to transit in and out of the strait, a statement that appeared to conflict with Iran’s announcement and highlighted uncertainty over actual navigational conditions.
The announcement and the market reaction underscore the Strait of Hormuz’s importance to global energy supplies and how rapidly geopolitical developments in the region can drive oil price volatility. — Reuters
Original Source: https://www.thehindu.com/news/international/west-asia-conflict-israel-us-iran-war-strait-of-hormuz-mojtaba-khamenei-donald-trump-benjamin-netanyahu-june-11-2026/article71087443.ece
Category:
Tags:
Publish Date: 2026-06-11 22:18:00
