Oil Prices Rebound From Lows as Hormuz Attacks Heighten Supply Concerns

Oil prices rebounded from two-month lows, with Brent rising above $92 a barrel and U.S. crude also gaining, as attacks on tankers in and near the Strait of Hormuz heightened concerns about supply disruptions. The gains came despite recent price declines driven by hopes for an end to the U.S.-Iran conflict; negotiations remain stalled, and Iran has denied that peace talks are underway. Analysts warn that even a diplomatic agreement may not quickly restore shipping, given the need to clear mines and address insurance costs and shipowners’ safety concerns. Market attention also turned to U.S. inventory data, though reports differed on whether stocks rose or fell, while continued regional infrastructure risks added to uncertainty.