Brent oil tops $100 as Hormuz toll talk and Iran tensions unsettle traders

Brent crude rose above $100 a barrel and later held near that level as sharp disruption in Strait of Hormuz shipping, reported military escalation, possible transit charges, and unresolved U.S.-Iran negotiations increased geopolitical and maritime risk. Commercial traffic through the strait had fallen sharply, with only two vessels entering the Persian Gulf that day, while Iranian state television said shipping could normalize within a month. At the same time, Trump said no agreement with Iran has been reached and warned the U.S. may act if talks fail, while Iranian sources denied reports of a finalized 14-point memorandum and said key nuclear issues remain unresolved. Coverage also linked the tensions to broader market stress, including WTI near the mid-$90s, inflation and tanker-flow concerns, roughly $300 million in crypto liquidations, and elevated activity on Hyperliquid. Reports of strikes, casualties, and a wider draft arrangement involving sanctions relief, frozen assets, maritime reopening, nuclear talks, and possible Strait of Hormuz transit fees remain partly disputed or unverified, but the central market takeaway is that tensions around Iran and the strait materially increased pressure on energy and digital-asset markets.