Brent oil prices jump 5pc on rising tensions over Strait of Hormuz

Published May 4, 2026

Brent oil prices have shot up more than five per cent on intensifying tensions over the Strait of Hormuz as Emirati authorities said an energy installation had been struck by a drone, AFP reports.

Near 1535 GMT (8:35pm PKT), Brent oil futures have jumped 5.2pc to $113.78 a barrel, while US benchmark West Texas Intermediate rose 3.1pc to $105.11 a barrel.

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