Brent's $3–6 Premium Reflects Fear of Prolonged Hormuz Crisis

Brent crude settled at $89.31 on August 28, 2026 — $3–6 above Reuters' July full-year forecast of $85.22. Markets are pricing a prolonged Strait of Hormuz crisis, not a brief disruption, even as 9 million barrels daily still transit the strait. That fear-versus-flow gap keeps gasoline and diesel costs elevated for households.