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Brent crude climbed above $80 a barrel as oil shipments resumed through the Strait of Hormuz. Investors remain cautious amid ongoing geopolitical risks and uncertainty over the pace of supply recovery.
Oil prices edged higher on Friday as traders assessed the gradual reopening of the Strait of Hormuz and ongoing geopolitical tensions in the Middle East.
Brent crude rose above $80 per barrel, while WTI traded near $77, trimming weekly losses after an interim peace agreement between the US and Iran helped restart oil shipments through the key waterway.
Nearly 10 million barrels of oil were reported moving through or exiting the Strait of Hormuz on Thursday, including the first Saudi-owned tankers since the conflict began more than three months ago. The route typically handles around 20 million barrels per day during normal conditions.
Despite improving oil flows, uncertainty remains. US Vice President JD Vance delayed a planned trip to Switzerland for further talks with Iran, while Israeli forces continued operations against Hezbollah in Lebanon.
Analysts say a full normalization of oil exports could take time as producers restart output, infrastructure is repaired, and shipping confidence gradually returns.
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Last update: Jun 19, 2026