Oil prices moved higher on Tuesday after an attack on a vessel in the Strait of Hormuz, according to finance.mail.ru. The incident added fresh supply concerns to a market already on edge over regional tensions.
Brent crude climbed to $91.48 per barrel, as reported by Interfax. Finam also noted that oil prices crossed the $91 mark, reflecting the market's reaction to the latest developments in the strategic waterway.
The Strait of Hormuz is a critical chokepoint for global oil shipments, and any disruption there tends to have an immediate effect on prices. Finance.mail.ru reported that the attack on the ship was the primary driver behind the price increase on August 18, 2026.
In a related development, Bloomberg reported that exporters have established covert oil delivery routes through the Strait of Hormuz, according to Meduza. This suggests that some traders are finding ways to keep supplies moving despite the heightened risks in the region.
The price movement comes amid broader uncertainty in the oil and gas markets. Finance.mail.ru's market overview for the same day highlighted several key factors influencing trading, though the vessel attack remained the dominant news item.
The combination of the attack and the reported secret shipping arrangements points to a market where physical supply continues to flow, but at a higher risk premium. Traders are now watching whether further incidents in the strait could push prices even higher or if the covert routes will help stabilize supply.
The situation remains fluid, and the next moves in oil prices will likely depend on how the security situation around the Strait of Hormuz evolves in the coming days.
