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Oil prices rose in Q2 as Strait of Hormuz disruptions spread

EIA said disruptions to crude and product flows through the Strait of Hormuz supported higher, more volatile crude prices through most of the quarter, while demand for alternative supply lifted U.S. petroleum product activity.

Reported · Written up by our desk · Energy

The U.S. Energy Information Administration said petroleum markets in the second quarter of 2026 were shaped by continued disruptions to international crude oil and petroleum product flows through the Strait of Hormuz.

Those disruptions helped push crude oil prices higher and made them more volatile through most of the quarter, according to EIA.

EIA added that the disruptions also led international buyers to seek alternative supply sources for petroleum products, contributing to higher U.S. petroleum product demand and activity.

Latest closeWTI crude $79.90 ▲2.2%

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