Oil prices decline despite rising security threats in the Strait of Hormuz

Oil prices fell in volatile trading on October 7, 2026, as physical export volumes from the Middle East recovered despite growing shipping risks. Rigzone News reported that Brent crude settled near 100 dollars a barrel, while West Texas Intermediate dipped 1.3 percent to close near 88 dollars a barrel. [1]

According to Rigzone News, physical oil shipments through the Strait of Hormuz have increased in recent weeks. However, security risks persist in the vital waterway. UK Maritime Trade Operations reported that at least nine attacks on vessels occurred in the strait during the first week of October alone, which equals half of the total combined attacks reported across Hormuz and the Persian Gulf throughout September. [1]

The recovery in regional supply has been noted by major industry executives. Briefs Finance and Investing.com both reported on October 6 that the chief executive officer of Shell stated Middle East oil flows have reached approximately 80 percent of prewar levels. [5][6]

Oil prices experienced upward pressure in post-settlement trading following geopolitical developments involving the United States. Rigzone News reported that crude futures edged higher after The Atlantic reported that the White House asked the Pentagon to prepare strike options against Iran. [1]