NEW YORK (Realist English). Oil prices climbed more than 2% on Tuesday as uncertainty persisted over a proposed U.S.-led coalition to secure shipping through the Strait of Hormuz.
Brent crude, the global benchmark, rose 2.45% to $102.57 per barrel, while U.S. West Texas Intermediate gained 2.51% to $95.85 per barrel in evening trading.
Conflicting signals from Washington
Analysts say mixed messaging from the U.S. administration is adding to market volatility.
“Markets are increasingly focused on developments on the ground, which remain escalatory,” said Saul Kavonic, head of energy research at MST Marquee.
U.S. Treasury Secretary Scott Bessent said Monday that Iranian oil tankers were currently being allowed to transit the Strait of Hormuz.
At the same time, reports indicated that Washington is preparing to announce a multinational coalition to escort commercial vessels through the strategic waterway.
However, President Donald Trump suggested that such a coalition is not yet fully operational and acknowledged reluctance among some allies to participate.
“Some are very enthusiastic, others less so,” Trump said, adding that certain countries may ultimately decline involvement despite longstanding U.S. security support.
Shipping disruptions persist
The United States has been urging partner countries to deploy naval forces to help protect tanker traffic through the strait.
Shipping volumes through the route have dropped sharply following Iranian attacks on vessels, contributing to one of the most significant disruptions to global oil supply in recent history.
“The scale of the disruption makes it difficult for the market to find a quick solution,” said Warren Patterson, head of commodities strategy at ING.
He noted that proposals such as insurance guarantees and naval escorts have yet to be implemented in practice.
Risks of naval operations
Analysts warn that escorting commercial ships through the strait carries significant risks.
Naval vessels involved in such missions could themselves become targets, potentially deterring immediate action until threats from Iran are reduced.
Strategic chokepoint
The Strait of Hormuz, located between Iran and Oman, remains one of the world’s most critical energy corridors.
According to energy analytics firm Kpler, roughly 13 million barrels of oil per day passed through the strait in 2025, accounting for about 31% of global seaborne crude trade.
Continued instability in the region is expected to keep energy markets under pressure in the near term.