Oil prices surge to $109/barrel as Strait of Hormuz tension worsens

Why This Matters

Key context: <img width="1024" height="576" src="https://dailypost.ng/wp-content/uploads/2026/04/Strait-of-Hormuz-2.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="display: block; margin: auto; margin-bottom: 5px;max-width: 100%;" link_thumbnail="" decoding="async" srcset="https://dailypost.ng/wp-content/uploads/2026/04/Strait-of-Hormuz-2.jpg 1024w, https://dailypost.ng/wp-content/uploads/2026/04/Strait-of-Hormuz-2-300x169.jpg 300w" sizes="(max-width: 1024px) 100vw, 1024px" /><p>Global crude oil prices jumped over the weekend amid heightened tensions in the Strait of Hormuz. A market survey by DAILY POST on Sunday showed that Brent and West Texas Intermediate, WTI crude rose to $109.90 and $101.40 per barrel, respectively. This means that Brent and WTI crude prices surged by 3.71 per cent and [&#8230;]</p> <p><a href="https://dailypost.ng/2026/10/19/oil-prices-surge-to-109-barrel-as-strait-of-hormuz-tensions-worsen/">Oil prices surge to $109/barrel as Strait of Hormuz tension worsens </a></p> This development from dailypost.ng highlights ongoing changes in the sector.