US says it’s clearing Hormuz traffic: Why are oil futures beyond $100?

Author: Al Jazeera StaffPublished on: September 14, 2026Country: United States

PoliticsBusiness & Economy

US says it’s clearing Hormuz traffic: Why are oil futures beyond $100?

President Donald Trump stated that the United States is making progress in reopening the Strait of Hormuz and escorting more oil through the waterway. However, oil prices have surged, with Brent reaching $107.82 a barrel. US Energy Secretary Chris Wright claimed that 10 million barrels of oil per day were passing through Hormuz, while Iran disputes these claims and has established a new restricted shipping zone.

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