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Oil prices rise as traders monitor shipping risks amid US and Iran tensions

Oil prices rose Tuesday as traders weighed shipping risks in the Strait of Hormuz. New U.S. vessel guidance and potential EU sanctions on Russian oil ports supported gains.

Insights:
Oil prices edged higher on February 10, 2026, as the global oil market reacted to new guidance issued for maritime commercial shipping in the Strait of Hormuz. The U.S. Department of Transportation Maritime Administration announced an advisory for commercial vessels flagged by the United States USUS operating near Iran IRIR at 11:55 AM UTC, raising concerns about potential supply disruptions. Because approximately one-fifth of global oil consumption transits this chokepoint, the advisory is immediately relevant to global supply risk and price formation.
FILE PHOTO: A pumpjack, used to help lift oil from a well, in the Permian basin near Midland, Texas, U.S., October 8, 2025. REUTERS/Arathy Somasekhar/File Photo
FILE PHOTO: A pumpjack, used to help lift oil from a well, in the Permian basin near Midland, Texas, U.S., October 8, 2025. REUTERS/Arathy Somasekhar/File Photo
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