Oil edges up

Saturday, 11 April 2026 04:20 - - {{hitsCtrl.values.hits}}

Oil prices rose on 10 April 2026 as supply concerns intensified following strikes on Saudi energy facilities and continued disruption to shipping through the Strait of Hormuz.

Brent crude increased by 0.6% to $ 96.50 per barrel, while West Texas Intermediate (WTI) gained 0.5% to $ 98.36.

The gains came after attacks reduced Saudi oil output by about 600,000 barrels per day (bpd) and cut pipeline flows by a further 700,000 bpd, tightening near-term supply expectations.

At the same time, tanker traffic through the Strait of Hormuz remained below 10% of normal levels, effectively constraining one of the world’s most critical oil transit routes amid ongoing tensions between Iran and the US and a fragile ceasefire.

Despite the uptick, both benchmarks remain under pressure for the week, with Brent and WTI down by around 11%, marking the steepest weekly decline since June 2025.