Oil Holds Gain as Traders Weigh Hormuz Flows After Ship Attack

Bloomberg.com · last updated June 25, 2026 – 4:21 PM

Oil held the bulk of a gain after a cargo ship was attacked in the Strait of Hormuz, renewing concerns about safe passage through the crucial waterway following a recent uptick in transits.

West Texas Intermediate traded above $71 a barrel after climbing more than 2% on Thursday, the first increase in five days. Brent rebounded to close near $75 after erasing all of its wartime gains earlier in the session. The vessel was struck by an unknown projectile, while it was sailing southeast of Oman.

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