Oil surpasses $110 amid tensions in the Strait of Hormuz
New attacks on ships near the Strait put shipping at risk and push Brent above $110, while European stock markets open cautiously amid doubts about artificial intelligence and French yields at their highest since 2002.
Oil prices rose again on Wednesday, following new attacks on ships near the Strait of Hormuz that put at risk the shipments passing through that area. The Brent contract for December delivery traded at $110 a barrel, up 1.11%, while the American benchmark crude, WTI, reached $98.80.
| Indicator | Value |
|---|---|
| Brent (December delivery) | $110/barrel (+1.11%) |
| WTI | $98.80/barrel |
The Strait of Hormuz is one of the most sensitive maritime passages for crude oil transport globally, and incidents threatening its security almost always translate into an immediate rise in international energy prices, due to fears of supply disruptions. The attacks recorded in these hours fit this pattern: as soon as the news spread across the markets, crude oil prices accelerated upward, reflecting the perception of a concrete risk to the trade routes crossing that stretch of sea.
On the equity front, European stock markets opened with cautious gains following the sell-offs recorded in previous sessions. Investors remain focused on two distinct fronts: on one hand, the resilience of the technology sector linked to artificial intelligence, after weeks of turbulence in the sector’s stocks; on the other, the performance of French debt, whose yields rose above 5% for the first time since 2002.
The dual source of pressure — more expensive oil and a French bond market under strain — explains why the rebound in European markets remains contained and lacking a clear direction. The rise in yields on the debt of one of the euro area’s largest economies is a signal that markets are watching closely, as it affects the cost of public financing and, consequently, investor confidence in the entire bloc.
The combination of rising oil prices and a bond market under pressure in one of the main eurozone countries creates a picture of widespread caution, in which stock markets move without a clear direction while awaiting developments both in the situation in the Strait of Hormuz and in the quarterly reports of major technology companies, which had already been at the center of investor attention in previous weeks.
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