Brent crude climbed 1.0% to $96.83/bbl and WTI up 0.9% to $98.78/bbl on 10‑04‑2026.
Shipping through the Strait of Hormuz fell below 10% of normal volumes, keeping about 20% of global oil at risk.
Saudi oil output capacity cut ~600,000 bpd and East‑West pipeline throughput down ~700,000 bpd after recent bombings.
Investor sentiment remains cautious ahead of US‑Iran talks, with Tehran denying delegation arrival and linking talks to Lebanon ceasefire commitments.