Strait of Hormuz: Crude Oil Divergence, the $100/bbl Spike, and Cross-Asset Fallout
Oil briefly hit $100 per barrel this week, then pulled back. our crude oil coverage That sequence tells you more than either data point does on its own. The spike confirmed the Strait of Hormuz disruption carries enough physical weight to drive the kind of panic premium that was theoretical six months ago. The pullback, triggered by Iran's signal of a partial reopening, tells you the market is not fully convinced the crisis is permanent. What sits in between those two prices is the most interesting trade setup in commodities in years.
Key Takeaways WTI is at $85.37/bbl (+1.03%) and Brent at $91.43/bbl (+0.62%) on August 18, 2026, with the Brent-WTI spread at $6.20, the widest since the 2022 s…
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