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Jun 19, 2025
Oil stabilizes near $74 as supply concerns mount
Markets eye Hormuz as oil nears $90
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Prices are moving against the backdrop of tensions in the Middle East. Main reason: Ongoing Israeli military operations against Iranian facilities have led markets to reject the scenario of deteriorating oil supplies from the Strait of Hormuz, pushing prices to new highs today. |
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Development Summary:
- Brent crude oil prices reached around $74.18 per barrel, with marginal price inflation driven by geopolitical concerns.
- Fears of supply disruptions from the Strait of Hormuz—which handles about 20% of seaborne oil trade—increased market pressure, with prices rising 10 to 11% in one week.
- Shell warned of “severe disruption” if the strait were to be closed, exposing global trade to a severe crisis.
- According to analysts from ANZ and JPMorgan, such tensions could push Brent to $90–$95, and at potential crisis points, could reach $120.