{"id":17208,"date":"2026-06-11T07:26:39","date_gmt":"2026-06-11T07:26:39","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17208"},"modified":"2026-06-11T07:26:39","modified_gmt":"2026-06-11T07:26:39","slug":"global-crude-oil-prices-today-june-11-2026-brent-oil-price-rises-to-94-58","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17208\/","title":{"rendered":"Global Crude Oil Prices Today (June 11, 2026) \/ Brent Oil Price Rises to $94.58"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures rose $1.48 (1.59%) to $94.58 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $1.71 (1.90%) to $91.74 per barrel.<\/p>\n

According to Roydad Naft, oil prices surged on Thursday after Tehran announced the closure of the critical energy chokepoint, the Strait of Hormuz, following additional U.S. strikes on Iran. This came as U.S. President Donald Trump vowed further attacks if a peace agreement could not be reached.<\/p>\n

Brent futures rose $1.48, or 1.59%, to $94.58 per barrel (as of 02:43 GMT), while U.S. WTI crude gained $1.71, or 1.90%, to $91.74. U.S. oil futures had risen more than $3 earlier in the session.<\/p>\n

Iran\u2019s Supreme Armed Forces Command announced on Thursday that the Strait of Hormuz was closed to oil tankers and commercial vessels, stating that any ship attempting to pass would be targeted.<\/p>\n

Analysts at ING wrote in a note to clients: \u201cThis once again shows that an agreement is still a long way off, and energy flows from the Persian Gulf will be severely restricted.\u201d<\/p>\n

They added that the renewed escalation in fighting caused oil prices to jump in early morning trading.<\/p>\n

On Wednesday, the U.S. military stated on social media platform X that commercial vessels continued to move in and out of the strait. It also emphasized that no U.S. warships in the strait had been hit, after Iranian state media reported that U.S. vessels near the waterway had been targeted by missiles and drones.<\/p>\n

U.S. forces began additional strikes against multiple targets in Iran from 5:15 p.m. Eastern Time (21:15 GMT). This marks the latest round of tit-for-tat attacks, threatening to reignite full-scale war \u2014 a conflict that had been paused in early April under a fragile ceasefire agreement.<\/p>\n

Trump told Fox News reporter Trey Yingst on Wednesday evening that the attacks would stop soon.<\/p>\n

Iran\u2019s months-long blockade of the Strait of Hormuz \u2014 which normally carries one-fifth of global oil and gas shipments \u2014 has kept oil prices elevated.<\/p>\n

Meanwhile, the U.S. Energy Information Administration (EIA) reported on Wednesday that U.S. crude inventories for the week ending June 5 fell by 7.2 million barrels to 426.5 million barrels, compared to analysts\u2019 expectations in a Reuters poll of a 4 million barrel drop.<\/p>\n

Since the start of the Iran war on February 28, U.S. crude inventories (including strategic reserves) have declined by 79 million barrels, as the world\u2019s largest producer has moved to offset supply shortages following the effective closure of the strait.<\/p>\n

In a sign of market strain, a Reuters survey showed OPEC production in May fell to its lowest level in more than two decades. This was due to the U.S. naval blockade limiting Iranian exports and Tehran\u2019s effective closure of the strategic waterway, which has also reduced shipments from other Persian Gulf producers.<\/p>\n

Updated on