WS #15414
Brent crude has surged to $102.92 per barrel as Iranian forces open fire on merchant ships in the Strait of Hormuz, disrupting 20% of global oil supply. The EIA has raised its Q4 2026 Brent forecast by $14, reflecting the severity of the supply shock. This escalation creates a clear divergence: energy majors like XOM and CVX are beneficiaries of the price spike, while airlines and shipping logistics face margin compression and operational risks.
Hormuz Oil Shock and Energy Inflation
Brent crude has surged to $102.92 per barrel as Iranian forces open fire on merchant ships in the Strait of Hormuz, disrupting 20% of global oil supply. The EIA has raised its Q4 2026 Brent forecast by $14, reflecting the severity of the supply shock. This escalation creates a clear divergence: energy majors like XOM and CVX are beneficiaries of the price spike, while airlines and shipping logistics face margin compression and operational risks.