Oil Near $100 Amid Hormuz Disruptions

Brent crude rose 0.6% to $99.07 per barrel, while WTI reached $90.25 per barrel on April 22, 2026.
Shipping through the Strait of Hormuz remains closed after a container ship attack and IRGC strike, affecting ~20% of global oil flow.
U.S. crude inventories fell 4.4 million barrels in the week to April 17, far exceeding the expected 1‑million‑barrel draw.
President Trump indefinitely extended the Iran ceasefire, but Iran’s response is unclear as gasoline prices have risen ~40% since the war began.