Oil Prices Jump Past $91 as Hormuz Flows Stay in Limbo

Global Oil – (Special Correspondent/Web Desk) – Oil prices moved higher on Tuesday as hopes for a Middle East peace deal faded fast. Iran said it will now take a tougher military stance, while the US made clear it will not extend the current ceasefire. This has raised fresh fears over global energy supply.

A senior Iranian official told Reuters that talks with Washington have stalled. As a result, Iran plans to shift to a fully offensive military posture. This news came just as the US confirmed it would not push the ceasefire deadline further.

Peace efforts had already slowed in recent days. Tanker traffic through the Strait of Hormuz, a key route for global oil shipments, has also dropped sharply. The ongoing conflict began after US and Israeli strikes on Iran back in February.

Brent crude rose 27 cents, reaching $91.14 a barrel early Tuesday. This came after prices hit their highest level since late July on Monday. US West Texas Intermediate crude also gained, climbing 42 cents to touch $85.04 a barrel.

Earlier in the session, WTI even spiked more than 1%, hitting $85.37. That was its strongest price point since July 31.

Market analysts say the mood around US-Iran relations is growing tense again. Talks to reopen the Strait of Hormuz remain far from done, and ship traffic through the route is still very thin.

Data from ship-tracking firm Kpler paints a clear picture. Only five commodity vessels passed through the Hormuz strait on Saturday. Sunday saw zero recorded transits. Compare that to 31 vessels during the same weekend just one week earlier.

The disruption is not limited to one area. Yemen’s Houthi forces also carried out missile attacks in the Red Sea. They targeted a vessel described as a Saudi military ship, along with four escort ships.

This adds pressure to two major maritime chokepoints at once, the Strait of Hormuz and the Bab el-Mandeb strait. Analysts say both routes now sit at the center of global supply worries.

Iran is also holding separate talks with Oman. The goal is to manage safe passage through the strait. Iranian officials say a deal is close.

However, tensions grew after Trump reacted strongly to these Oman talks. He threatened military action against the Gulf nation, a country that has long served as a security partner to the US.

Still, there may be a small sign of hope. Some media reports suggest Trump has opened quiet, back-channel talks with Iran’s Islamic Revolutionary Guard Corps. This could hint at a possible path toward easing tensions, even if slowly.

Meanwhile, supply data adds another layer to the story. A preliminary Reuters poll showed that US crude oil stockpiles likely dropped last week. Product inventories are also expected to have declined.

Falling stockpiles often signal stronger demand or tighter supply, both of which tend to push prices upward. Combined with shipping disruptions, this keeps upward pressure on oil markets for now.

For everyday consumers, this kind of volatility often trickles down. Fuel costs, transport prices, and even everyday goods can be affected when oil markets swing sharply.

As it stands, the situation remains fluid. Much depends on whether diplomatic channels reopen or whether tensions continue to build in the days ahead.

Markets will likely stay on edge until there’s clearer direction, either toward a real ceasefire extension or further escalation between the US and Iran.