On the London Stock Exchange ICE, the price of oil for delivery in May 2026 rose by more than 10% — this is the first increase since September 29, 2023. At the same time, WTI crude oil futures for April 2026 increased to $92.37 per barrel, reflecting a rise of 14.02%.
The situation is exacerbated by the change in the U.S. strategy for protecting tankers in the Strait of Hormuz. U.S. Energy Secretary Chris Wright announced Washington's intention to first weaken Iran's influence and then, when circumstances are more favorable, begin escorting vessels through the strait.
Analysts had previously forecast a possible sharp rise in oil prices, linking it to the blockade of the Strait of Hormuz.
Qatar's Energy Minister Saad al-Kaabi warned that all energy exporters in the Persian Gulf could declare force majeure in the coming days, which would lead to oil prices rising to $150 per barrel.
