Oil Prices Are Jumping — But Not Because Markets Panic

Oil prices have swung from $69 to over $92 since June 2026, rising and falling with each U.S.–Iran clash. That range tells us markets expect temporary bumps, not a lasting shutdown of the Strait of Hormuz — a narrow shipping lane carrying about 20% of the world's oil. Each clash that passes without closing it shrinks that cushion of safety.