Brent Crude Hits $90 in Oil & Companies News 06/03/2026 Brent crude surged more than 5% to around $90 a barrel, the highest since April 2024, as the escalating Middle East conflict severely disrupted global oil supplies. Shipping through the Strait of Hormuz, a key route that normally carries about 20 million barrels of oil per day, has nearly stopped due to security threats, insurance issues, and operational uncertainty. This has effectively choked off exports from major Gulf producers and forced some countries to shut in output. Analysts estimate that 7–11 million barrels per day may be temporarily missing from the market. The supply shock has pushed oil prices up more than 20% this week, despite signals from Donald Trump that the US may take action to ease prices and a temporary waiver allowing India to buy some stranded Russian crude. Meanwhile, governments in Japan and elsewhere are considering releasing emergency reserves. Source: Trading Economics 2026-03-06 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share