Brent Crude Oil Prices Could Hit $130/Barrel This Summer As Hormuz Disruption Nears Breaking Point

Foreign Policy Journal

Foreign Policy Journal

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June 13, 2026

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Brent Crude Oil Prices Could Hit $130/Barrel This Summer As Hormuz Disruption Nears Breaking Point

Crude oil prices have held below 100 per barrel despite prolonged disruptions to flows through the Strait of Hormuz, defying expectations of an immediate price shock. Three key buffers have prevented a full-scale price surge, providing temporary relief to global energy markets still absorbing the scale of the disruption. Sharply lower Chinese crude imports have [] The post Brent Crude Oil Prices Could Hit 130/Barrel This Summer As Hormuz Disruption Nears Breaking Point appeared first on Foreign Policy Journal.

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