Oil prices rise as attacks dent hopes for Strait of Hormuz reopening

Brent crude climbs as renewed violence dampens hopes for a return to stability in energy markets.Published On 12 Aug 202612 Aug 2026Oil prices have jumped as attacks on shipping in the Middle East cast doubt on prospects for a breakthrough in negotiations to reopen the Strait of Hormuz.Brent crude rose more than 2 percent overnight into Wednesday, taking the international benchmark to close to $90 a barrel.Recommended Stories list of 4 itemslist 1 of 4Colombia scrambles to find survivors after deadly earthquakelist 2 of 4Cargo ship in flames after Houthi attack in Bab al-Mandeb straitlist 3 of 4N Korea launches ballistic missile as S Korea, US plan military drillslist 4 of 4Zambia to vote as economic hardship tests government reformsend of listBrent futures for October delivery stood at $89.61 as of 03:00 GMT, up about 24 percent compared with before the start of the US-Israel war on Iran in late February.“Markets have not completely lost hope for a deal, but confidence is clearly eroding,” Tim Waterer, chief market ‌analyst at Australia-based KCM Trade in Sydney, told Al Jazeera.“The longer talks drag on without visible progress, and the more complex the reported demands become, t...