Strait of Hormuz Oil Flows Halve as Brent Nears Four-Year High

Reuters reported July 15, 2026 that oil shipments through the Strait of Hormuz — a chokepoint normally moving a fifth of global oil supply — have dropped below half pre-war levels amid US-Iran strikes on energy infrastructure. Brent crude, the global price benchmark, sits near $93–$97, a four-year high. Reuters projects prices could top $110/barrel in Q4 2026 if disruptions persist.