Oil Prices Rise as US‑Iran Maritime Strikes Heighten Hormuz Supply Risks
Escalating strikes between the United States and Iran in the Strait of Hormuz pushed Brent above $97 and WTI above $92 per barrel, reviving fears of a prolonged Middle‑East supply disruption.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Oil & Gas sector likely to benefit from higher crude prices – Buy bias on related tickers.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- Oil & GasPositively affected
Companies
Mentions in This Briefing
Sectors: Oil & Gas — Positive · Buy bias. PSX tickers: OGDC, PPL. Oil & Gas sector likely to benefit from higher crude prices – Buy bias on related tickers.
Full Story
Open on Business Recorder## Background
Tensions in the Strait of Hormuz intensified on Saturday when U.S. forces struck three Iranian oil tankers, including one near Kharg Island, a key export hub for Iran. In retaliation, Iran’s Islamic Revolutionary Guard Corps targeted three commercial tankers transiting the strait and three additional U.S. vessels elsewhere.
## Market Reaction
By 0512 GMT on Monday, Brent crude futures had climbed 79 cents (0.82%) to $97.07 a barrel, while U.S. West Texas Intermediate (WTI) rose 80 cents (0.87%) to $92.28 a barrel. Over the previous week, Brent gained 7.8% and WTI nearly 10% as the maritime conflict disrupted roughly one‑fifth of global oil flows that normally pass through Hormuz.
## Shipping Activity
Data from analytics firm Kpler showed an average of only ten commodity ships transited the strait each day over the past ten days – the lowest level since May. Maritime‑intelligence firm Marisks described Saturday’s attacks as a “major escalation in the maritime conflict,” noting that commercial tankers are now being used as tools of economic pressure.
## Outlook
Analysts warned that a slowdown in tanker traffic could trigger a larger supply shock, with OPEC+ keeping its October output policy unchanged while awaiting new quota decisions. The Iranian secretary of the Supreme National Security Council signaled a forthcoming restricted zone around Hormuz, suggesting the standoff could persist into 2026 and delay a full recovery of Middle‑East oil supplies.
## Implications for Pakistan
Higher global crude prices are likely to lift the earnings outlook for Pakistan’s listed oil‑and‑gas companies, while also putting upward pressure on domestic fuel prices and the broader economy.