Archive · 19 Aug 2026
Crude Futures Rise Fourth Session Amid Hormuz Supply Fears
Oil prices rose for the fourth day in a row.
Traders are worried that fighting and shipping problems could make it harder to move oil.
A merchant ship was hit by an unknown projectile in the Strait of Hormuz, and a crew member became a casualty.
The United States and Iran did not reach an agreement after a 60-day ceasefire period ended.
Iran has listed conditions for reopening the waterway.
Saudi Aramco has used ship-to-ship transfers, which are slower and more expensive.
Gulf diesel shipments were down about 80% from last year, while crude shipments were down 48%.
These concerns made traders pay more for oil.
MCX September crude futures rose Rs 57, or nearly 1%, to Rs 8,145 per barrel.
Brent October futures gained nearly 1% to USD 91.65 per barrel, while October WTI rose 1% to USD 85.65.
A merchant vessel was struck by an unknown projectile while transiting the Strait of Hormuz, resulting in a crew casualty.
Iran reportedly set conditions for reopening the waterway, including frozen-asset releases, sanctions relief and an end to the naval blockade.
Saudi Aramco used slower, more expensive ship-to-ship transfers, while Gulf diesel and crude flows fell from last year.
- Who
- Crude traders, analysts, Iran, Saudi Aramco, shipping operators, the United States and the United Kingdom’s UK Maritime Trade Operations centre.
- What
- Crude futures rose for a fourth straight session as concerns grew about energy supplies and shipping through the Strait of Hormuz.
- When
- Wednesday; Brent had remained above USD 91 per barrel for three consecutive days after the 60-day US-Iran ceasefire window expired.
- Where
- Prices moved on the Multi Commodity Exchange and international markets; the shipping risks involved the Strait of Hormuz and waters off the United Arab Emirates coast.
- Why
- Renewed geopolitical uncertainty, a vessel attack, Iran’s reopening conditions and falling regional energy flows increased fears of supply disruptions.
- MCX September crude
- Rs 8,145 per barrel, up Rs 57, or nearly 1%
- Brent October futures
- USD 91.65 per barrel, up nearly 1%
- WTI October futures
- USD 85.65 per barrel, up 1%
- MCX trading volume
- 11,535 lots
- Shipping incident
- A merchant vessel was hit by an unknown projectile in the Strait of Hormuz, causing a crew casualty
- Regional flows
- Gulf diesel flows fell around 80% from last year, while crude flows fell 48%
- Market spread
- Near-month crude traded about USD 4 above contracts two months out
