Brent Rebounds Sharply After Sub-$100 Drop as Hormuz Conflict Drains Liquidity
Brent crude reversed sharply after its sub-$100 selloff, swinging from a $5-a-barrel decline to a $2 gain as liquidity evaporated from the oil market amid the U.S.-Iran conflict and blockade of the Strait of Hormuz. Total Brent futures open interest, a proxy for money in the market, fell to the lowest level since August as traders pulled back from Middle East volatility, leaving benchmark prices more prone to abrupt moves.
The rebound followed Wednesday's drop below $100 a barrel on hopes of a U.S.-Iran agreement after President Donald Trump paused Project Freedom, the U.S. escort effort through Hormuz, while keeping the blockade in place. The longest blockade of the strait on record has cut off hundreds of millions of barrels of Persian Gulf oil from global markets. Reuters cited Onyx Capital Group's Jorge Montepeque as saying volumes were "highly unusual," "concentrated" and ahead of key announcements, while Shell Chief Executive Officer Wael Sawan said "the journey back will be a long one."
From the sources (25 posts)
@marionawfalRECAP: Quick scroll on what just unfolded in the last few hours... -The ceasefire is functionally over. Iran launched the most serious attack of the war today, hitting the UAE oil hub at Fujairah and starting a fire at the port Abu Dhabi
@hfi_researchUm... wtf is going on? GPS/AIS spoofing? See the end of the video on the Strait of Hormuz. Source: @MarineTraffic
@firstsquawkMaersk confirmed that one of its ships exited the Strait of Hormuz under escort from the United States.
@staunovoHundreds of vessels were seen clustering near Dubai on Tuesday, as more ships moved away from a still-empty Strait of Hormuz in response to Iran’s efforts to widen its area of control. Crew members have reported hearing radio broadcasts wa
@staunovoTwo U.S. Navy destroyers transited the Strait of Hormuz and entered the Persian Gulf after navigating an Iranian barrage, according to defense officials who spoke to CBS News under condition of anonymity to discuss national security matters
@firstsquawkDanish company Maersk says one of its ships has exited the Strait of Hormuz under U.S. escort.
@osint613NEW Maersk says a vessel of its fleet transited out of the Strait of Hormuz with U.S. military escort.
@defencegeekRT @FaytuksNetwork: The destroyers USS Truxtun and USS Mason transited the Strait of Hormuz while sustaining small boat, missile, and drone…
@firstsquawkCBS News on officials: Two American destroyers crossed the Strait of Hormuz after passing through an Iranian barrage of fire
@osinttechnicalPowerful regional-level jamming has hit the Strait of Hormuz again, with major location and AIS spoofing seen over the last couple of hours. Seen here, AIS ship tracks on @MarineTraffic disappearing and jumping around.
@marionawfal🇺🇸🇮🇷 Maersk confirmed its vessel Alliance Fairfax was among the U.S.-flagged ships that transited the Strait of Hormuz under U.S. military escort yesterday. The company says it was contacted by the U.S. military and offered the opportunity
@theinsiderpaperNEW: Maersk says one of its ships transited Strait of Hormuz under US escort
@polymarketintelMaersk says one of its ships transited the Strait of Hormuz under U.S. military escort.
@staunovo#Iraq is offering its term buyers huge discounts for crude loaded this month, but tankers will have to transit the Strait of Hormuz to collect the barrels deep inside the Persian Gulf just as hostilities flare in the region. The OPEC produ
@reutersThe US military said it destroyed six Iranian small boats and intercepted Iranian cruise missiles and drones as Tehran sought to thwart a new US naval effort to open shipping through the Strait of Hormuz https://t.co
@marionawfal🇰🇷🇺🇸 A South Korean cargo ship was just hit in the Strait of Hormuz. Seoul still won't commit to joining the U.S. mission to reopen it. - Seoul says it is carefully reviewing its position on joining the U.S. mission in the Strait of Hormuz
@marionawfal🇺🇸🇮🇷 The U.S. isn't escorting every ship through the Strait. It's building a defensive umbrella over the whole thing. - CENTCOM chief Adm. Bradley Cooper says a mix of ships, planes, helicopters and drones is creating a zone of protection
@staunovoRT @Osinttechnical: Powerful regional-level jamming has hit the Strait of Hormuz again, with major location and AIS spoofing seen over the…
@osint613MORE INFO: Maersk reports the “Alliance Fairfax” has left the Persian Gulf under U.S. military escort, completing its passage safely after being stuck there since February 2026.
@centcomUSS George H.W. Bush (CVN 77) transits the Arabian Sea as U.S. forces enforce the naval blockade against Iran from the Gulf of Oman and support Project Freedom in the Strait of Hormuz. The carrier has more than 60 aircraft on board. https:/
@osint613CENTCOM: USS George H.W. Bush (CVN 77) transits the Persian Gulf as U.S. forces enforce the naval blockade against Iran from the Gulf of Oman and support Project Freedom in the Strait of Hormuz. The carrier has more than 60 aircraft on boa
@theinsiderpaperPHOTO: USS George H.W. Bush (CVN-77) transits the Arabian Sea as U.S. forces enforce a naval blockade on Iran from the Gulf of Oman and support “Project Freedom” operations in the Strait of Hormuz. The carrier is equipped with more than 60
@jm_szubaGHW Bush now in the Arabian Sea
@thestudyofwarRT @TheStudyofWar: NEW: Iran is attempting to demonstrate its “control” over the Strait of Hormuz in response to US attempts to secure free…
@ericldaugh🚨 JUST NOW: The United States is closer to resuming "MAJOR COMBAT OPERATIONS" against Iran after the regime fired on US ships and attacked the UAE, per Fox "They'll be blown off the face of the earth!" if they attack US ships carrying out