WTI Surges 6%: Could Strait of Hormuz Tensions Trigger a New Oil Rally?

WTI crude jumped more than 6%, returning to levels near $81 per barrel as investors priced in a renewed geopolitical risk premium for oil. The surge, the article argues, isn’t just a rebound from last week’s losses; it reflects updated expectations around possible ongoing supply disruptions tied to the Strait of Hormuz. The key issue is whether tankers can use the route regularly and safely, since prolonged uncertainty tends to keep risk premiums elevated. The piece cites Iran’s statements about talks with Oman on establishing maritime corridors as a potentially positive step, but says a stable reopening would require a clear, enforceable agreement. It also highlights U.S.-Iran diplomacy, noting WTI could face volatility while negotiations remain unclear.