Energy — Oil Prices Fluctuate Due to Strait of Hormuz Tensions; Europe Faces Jet Fuel Shortages

Energy · 2026-04-20

The Iran conflict is no longer a geopolitical risk scenario — it is an active supply crisis reshaping energy markets in real time. Oil prices swung more than 15% in a single weekend, with WTI surging 6.2% to $89.06 and Brent hitting $95.14 after the U.S. Navy seized an Iranian vessel near the Strait of Hormuz, just days after a 9%-plus selloff on diplomacy hopes. More structurally consequential,…