# Oil gains over $1 on Strait of Hormuz shipping disruptions, Russia tensions

> Oil prices rose more than $1 a barrel on Thursday as ongoing disruptions in the Strait of Hormuz and broader geopolitical tensions offset rising crude output. Brent traded near $93.96 and WTI near $87.06, though both were still set for a weekly decline. Iran said four tankers were hit in the strait, and Ukraine reported attacks on a Russian Baltic port.

- Date: 2026-11-12 · published 2026-11-12T18:09:19.858Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/95836-oil-gains-over-1-on-strait-of-hormuz-shipping-disruptions-russia-tensions
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Continued disruption to Gulf crude shipments keeps energy and freight costs elevated, which raises diesel and fertilizer costs for feed producers and supports vegetable oil and biofuel-linked prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-07-30 | [Strait of Hormuz and drone threats to global shipping](https://feedsoft.ai/events/16801-strait-of-hormuz-and-drone-threats-to-global-shipping.md) | -8.4% | +5.7% |
| BRENT | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | +7.5% | +9.7% |
| BRENT | 2026-07-14 | [Russia, Strait of Hormuz combining to drive diesel higher after declines - FreightWaves](https://feedsoft.ai/events/12185-russia-strait-of-hormuz-combining-to-drive-diesel-higher-after-declines.md) | +6.8% | +9.4% |
| BRENT | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | -1.9% | -16.4% |
| BRENT | 2026-03-05 | [Asia refining margins rocket to highest in nearly 4 years on Hormuz supply disruption \| Reuters](https://feedsoft.ai/events/5535-asia-refining-margins-rocket-to-highest-in-nearly-4-years-on-hormuz-supply.md) | +12.3% | +35.0% |
| WTI | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | -1.5% | +5.6% |
| WTI | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | +2.2% | -10.9% |
| WTI | 2022-02-22 | [Canadian dollar firms as oil surges on rising Russia-Ukraine tensions - The Globe and Mail](https://feedsoft.ai/events/42919-canadian-dollar-firms-as-oil-surges-on-rising-russia-ukraine-tensions-the-globe.md) | +5.3% | +23.0% |

## Sources

- channelnewsasia.com: https://www.channelnewsasia.com/business/oil-gains-over-1-strait-hormuz-shipping-disruptions-russia-tensions-6544501

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.