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U.S.-Iran Strait disruption boosts demand for Brazil oil grades

Brazil reached record June 2026 hydrocarbon output of 5.8 million barrels of oil equivalent per day, up 4.2% month over month.

Reported · Written up by our desk · Energy

Oil prices have risen since Middle East hostilities reignited, but remained below the peaks seen in April 2026, Oilprice reports, citing U.S. strikes against Iran and resulting disruptions to traffic through the Strait of Hormuz.

With a fifth of global hydrocarbon supplies shipped through the strait, the disruption has shifted buying toward higher-quality Brazilian oil grades, especially from Asia where shipments can avoid contested waters, Oilprice adds.

The demand trend is expected to support higher petroleum investment and production in Brazil. Government data cited by Oilprice shows June 2026 hydrocarbon output reached a record 5.8 million barrels of oil equivalent daily, up 4.2% from May 2026 and 3.6% above April 2026.

Oilprice also points to record production gains in specific fuels, saying June 2026 oil output hit an all-time high of 4.5 million barrels per day, and natural gas output reached 7.7 billion cubic feet per day, with both figures higher month over month and year over year.

Latest closeNat gas $2.883 ▲0.6%

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