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Crude Oil Holds Above 105 Dollars as Strait of Hormuz Disruptions Tighten Global Supply
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CNBC TV18•14-10-2026, 12:48
Crude Oil Holds Above 105 Dollars as Strait of Hormuz Disruptions Tighten Global Supply
- •Crude oil prices stayed above 105 dollars per barrel due to US-Iran tensions and shipping disruptions through the Strait of Hormuz.
- •Daily crude oil flows through the Strait of Hormuz dropped from 16-17 million barrels in September to below 10 million barrels in October according to Kpler.
- •Saudi Arabia's oil production recovered to about 8.73 million barrels per day but remains below pre-war levels following regional attacks.
- •Coal futures trade near three-year highs around 150 dollars per tonne as high liquefied natural gas prices drive demand for cheaper alternatives.
- •Investors are closely monitoring upcoming US inflation data and the US dollar's strength amid broader concerns over global growth and debt levels.
Key Questions Answered
Crude oil prices have stayed above $105 per barrel due to escalating tensions between the US and Iran alongside severe shipping disruptions through the Strait of Hormuz.
According to commodity analytics firm Kpler, daily oil passage through the Strait of Hormuz dropped from an average of 16-17 million barrels in September to below 10 million barrels per day in October.
Coal futures are trading near three-year highs around $150 per tonne because elevated liquefied natural gas (LNG) prices make coal an attractive and significantly cheaper alternative for power generation.
