Oil prices remain volatile amid Hormuz risks, Gulf export recovery — Brent crude stays at $100, WTI at $88.83 per barrel

Oil markets remained volatile on Thursday, with WTI at $88.83 a barrel, up 0.62%, Brent at $100.20, down 0.38%, and Abu Dhabi’s Murban at $106.69, up 0.47%, as per industry publication OilPrice.com.

The mixed performance reflects a market caught between improving Middle East oil flows and persistent security risks around the Strait of Hormuz.

Brent has struggled to fall decisively below $100. WTI, however, has slid from $105.83 on Sept. 15, 2026 to $88.83 on early on Thursday.

Price volatility stays despite the recovery in Gulf crude exports: freight rates, war-risk insurance and inefficient alternative shipping routes remain exceptionally expensive.

Tanker attacks around Hormuz are also keeping a geopolitical premium embedded in prices.

Hormuz remains the biggest risk

The latest maritime data reinforces that concern.

At least 12 attacks, attempted attacks or harassment incidents involving oil, LNG and LPG tankers were recorded around Hormuz between September 28 and October 5 — the highest weekly level since the Iran war began, according to maritime-security sources cited by Reuters.

Twelve crew members were injured when the Panama-flagged tanker On Peace was struck by an unidentified projectile.

At the same time, Gulf producers have managed to restore substantial export volumes through pipelines, alternative routes and ship-to-ship transfers.

Kpler reported that Gulf crude and condensate exports, excluding Iran, reached at least 16.5 million barrels per day in September.

This roughly matching the pre-war average. But only about 60% crossed Hormuz, compared with 83% before the war.