Oil Stocks to Watch Amid 85% Crude Price Surge in 2026

Global Oil Markets in Turmoil as Iran Blocks Strait of Hormuz

The blockade of the Strait of Hormuz by Iran, following coordinated strikes by the United States and Israel on the Islamic Republic, has sent Brent crude prices soaring in 2026. The sudden escalation of tensions in the region has sparked widespread concern among global economists and energy experts, who fear the blockade could have far-reaching consequences for the world economy.

The blockade, which began on January 15, 2026, has already led to a significant increase in Brent crude prices, with prices surging to $85.23 per barrel on February 10, 2026, a 12.5% increase from the previous month's average of $75.43 per barrel. This sharp rise in prices has been attributed to the disruption of oil exports from the Middle East, which accounts for over 20% of the world's total oil production.

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The impact of the blockade is likely to be felt across the globe, with many countries relying heavily on imported oil to meet their energy needs. The United States, in particular, is expected to be severely affected, with the country importing over 9.5 million barrels of oil per day from the Middle East in 2026. As the situation continues to unfold, global markets will be closely watching the developments in the region to anticipate any further price shocks.