Brent Crude Rises Nearly 3 Percent to $85.90 as Hormuz Ship Traffic Collapses to 8 Vessels a Day

Brent crude rose 2.85 percent (2 dollars and 38 cents) from the prior session to 85 dollars and 93 cents, according to price data recorded on Sahmino as of 17:48 Tehran time on Monday, 19 Mordad 1405 (August 10, 2026). Al Jazeera reported the same day that commercial ship traffic through the Strait of Hormuz has fallen sharply, with only 8 vessels transiting the waterway on Monday, compared with roughly 130 vessels a day before the US and Israeli war on Iran began on February 28, 2026. Al Jazeera said talks among Iran, Oman and the United States on an interim agreement over shipping routes are continuing, but Iran has conditioned a full reopening of the strait on a withdrawal of US forces from the region, compensation for war damage, and the lifting of sanctions. The Strait of Hormuz normally carries about one fifth of the world's oil exports.