Strait of Hormuz disruption sends oil prices surging Paolo AgnolucciNikita MakarenkoKaltrina Temaj May 07, 2026 This page in: English © 2026 The World Bank Group,

https://blogs.worldbank.org/en/opendata/strait-of-hormuz-disruption-sends-oil-prices-surging This blog post is part of a special series based on the April 2026 Commodity Markets Outlook, a flagship report published by the World Bank. This series features concise summaries of commodity-specific sections extracted from the report. Oil prices surged sharply after the outbreak of conflict in the Middle East and the near-total disruption of shipping through the Strait of Hormuz. By the end of March, the Brent price had increased by about 65 percent ($46/bbl) to record its highest monthly rise ever, amid pronounced volatility. Prices eased somewhat in early April after the announcement of a temporary ceasefire. Since then, the movement of oil prices have reflected uncertainty about the outcome of negotiations between the Islamic Republic of Iran and United States to end the conflict and restore regional oil flows. This uncertainty has persisted amid a blockade of vessels entering or leaving Iranian ports and coastal areas. © 2026 The World Bank Group,