Strait of Hormuz Oil Flows Drop Below Half Pre-War Levels as Brent Hits Four-Year High

Reuters reported July 15, 2026 that oil exports through the Strait of Hormuz — normally carrying roughly a fifth of global oil consumption — have fallen below 50% of pre-war levels amid US-Iran strikes on energy infrastructure. Brent crude sits near a four-year high at $93–$97. Reuters projects prices could exceed $110/barrel in Q4 2026 if disruptions persist.