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Oil prices rose and fluctuated in Q2 on Strait of Hormuz disruptions
The disruptions also pushed international buyers to seek alternative petroleum supplies, supporting demand for US product exports.
The US Energy Information Administration says petroleum markets in the second quarter of 2026 were shaped by ongoing disruptions to international crude oil and product flows through the Strait of Hormuz.
Those disruptions contributed to higher and more volatile crude oil prices through most of the quarter, as the market adjusted to tighter supply conditions, according to the EIA.
The EIA also reports that the flow problems led international buyers to look for alternative sources of petroleum products, lifting demand for US supply.
Overall, the EIA characterized the quarter as one where Middle East-related disruptions increased both price levels and price swings across the petroleum market.
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