The price of oil for delivery in May 2026 has increased by more than 10% since September 29, 2023. At the same time, the WTI futures for April 2026 stood at $92.37 per barrel, reflecting an increase of 14.02%.
In response to growing threats in the region, the U.S. has changed its strategy for escorting tankers in the Strait of Hormuz. U.S. Energy Secretary Chris Wright stated that Washington plans to first weaken Iran's positions and then, in a more favorable environment, begin to protect vessels.
Analysts had previously predicted a sharp increase 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 would declare force majeure in the coming days, and as a result, oil prices could soar to $150 per barrel.
