With Brent Crude back up in mid $80's/barrel with Hormuz closure, will it close the week above $90?
58% of users predicted YES — the community missed this one. 33 predictions cast.
Brent crude closed the week of July 17, 2026 at $88.10 per barrel, below the $90 threshold in question. The international benchmark rose about 4.6% that Friday alongside a 4.5% gain in U.S. West Texas Intermediate, which settled at $82.49, as tensions around the Strait of Hormuz kept commercial shipping traffic through the waterway limited.
The spike followed reports that Iran struck a water desalination and power plant in Kuwait, escalating the broader U.S.-Iran conflict that had already disrupted regional energy infrastructure and stoked fears of a wider Gulf supply disruption. Elevated volatility through the week pushed Brent up from the mid-$80s but stopped short of the $90 mark by Friday's close.
The community leaned toward a "yes" outcome, with 58% predicting Brent would finish the week above $90, but the market fell short of that level even amid the Hormuz-related supply fears. The gap between sentiment and price reflects how quickly Gulf tensions can move oil markets without necessarily pushing prices past a specific round-number threshold in a single week.