Brent Breaks $89 as Hormuz Tensions Persist
Brent crude rose above $89 a barrel in European trading as the U.S. and Iran issued competing claims over control of the Strait of Hormuz, underscoring ongoing supply concerns despite Washington’s assertions that traffic had normalized. Iran warned the strait could remain closed unless sanctions relief is granted, while President Trump claimed the U.S. has total control over Hormuz, signaling a continued stalemate that could keep oil markets volatile.