Brent at $88.90 as Strait of Hormuz Disruption Pushes Oil 4% Above Analyst Consensus

Brent settled at $88.90 on August 11, 2026, roughly 4% above Reuters' consensus full-year forecast of $85.22, as Iran and the US both demanded compensation over the Strait of Hormuz. U.S. imports of Middle Eastern crude were set to hit ~600,000 barrels per day in August — the highest since the Iran war began.