Brent Crude Hits $89.23 as Hormuz Shipping Halt Roils Global Markets and Crypto

Brent crude climbed to $89.23 per barrel with a 4.5% daily rise and 18% weekly gain amid an eighth straight day of Strait of Hormuz disruption tied to the US-Iran conflict. WTI reached $86.06, while equity benchmarks and crypto sold off and analysts floated scenarios where oil could move toward $100–150 under prolonged supply stress. OPEC+ output changes and Gulf rerouting efforts appear modest versus the estimated 21M bpd at risk, leaving markets focused on whether military escorts or further escalation will shape the next leg in prices.