By Boluwatife Oshadiya | September 4, 2026
Key Points
- Brent crude falls marginally to $95.55 a barrel as concerns over prolonged Strait of Hormuz disruption ease
- US Vice President JD Vance says Washington is not seeking an “indefinite war” with Iran
- US officials say military escorts have helped 40 commercial vessels carrying 18 million barrels of oil through the strait
Main Story
Crude oil prices eased on Friday as continued oil shipments through the Strait of Hormuz and US assurances against an “indefinite war” with Iran reduced concerns over prolonged supply disruptions.
International benchmark Brent crude futures for November delivery traded at $95.55 a barrel, down 0.03% from the previous close of $95.52, while US West Texas Intermediate crude futures for October delivery fell 0.3% to $91.55 a barrel.
US Vice President JD Vance said at a White House press briefing on Thursday that Washington retained “all options” concerning Iran, including military, economic and diplomatic measures, but was not seeking an indefinite conflict.
Vance said the US was applying military, economic and diplomatic pressure to protect commercial vessels and maintain oil and gas flows through the Strait of Hormuz.
He added that about 15 million barrels of oil had passed through the waterway despite the conflict.
CNN, citing US officials, reported that US forces had enabled oil shipments through the strait to continue at levels close to those recorded before the conflict.
The officials said US forces had escorted 40 commercial vessels carrying a combined 18 million barrels of oil through the strategic waterway while striking about 60 Iranian military targets.
Before the conflict, about 20 million barrels of crude oil and petroleum products moved through the Strait of Hormuz each day on average.
What’s Being Said
“All options remain on the table,” US Vice President JD Vance said at a White House press briefing, while adding that Washington was not seeking an indefinite war with Tehran.
Vance also said the US would not resume talks with Iran unless Tehran stopped attacks on commercial shipping, while maintaining that Washington’s actions were aimed at protecting commercial vessels and preserving energy flows through the strait.
What’s Next
- Markets will continue to monitor the movement of commercial vessels and oil shipments through the Strait of Hormuz
- Further US-Iran developments could influence crude prices if they threaten the continuity of energy shipments
- Traders will watch for changes in geopolitical risk premiums as the conflict develops
Bottom Line
The Bottom Line: Oil prices are easing because physical flows through the Strait of Hormuz have continued despite the conflict. However, the waterway remains a critical supply route, leaving crude markets highly sensitive to any renewed disruption to commercial shipping or escalation between the US and Iran.
