Brent rises past $90 amid fresh Hormuz tensions

According to a report by Punch, Brent crude closed at $90.53 per barrel on Monday, up 2.27 per cent, after Iran threatened a “fully offensive” military response in the Strait of Hormuz if diplomatic efforts fail. A senior Iranian official told Reuters that Tehran was prepared to break the US naval blockade through a “timely and precise” attack.

The escalation coincided with President Trump warning Oman he would “bomb the shit out of them” if it obstructed negotiations, while also urging Iran to surrender, further rattling global energy markets already strained by the stalled ceasefire talks.