Brent Crude Up 40% to $85 as Russian-Iran Data Raises Supply Risk
Russia has given Iran classified data on U.S. military positions in the Middle East, raising risks to oil shipments through the Strait of Hormuz. Brent crude is up 40% this year to $85 per barrel, boosting ExxonMobil’s profit outlook and edging prices toward $100.
1. Russian Intelligence Sharing
Moscow has reportedly begun transmitting classified U.S. military positioning data to Iran following recent Middle East hostilities, raising concerns over the security of U.S. forces and potentially informing Iranian strategy. This intelligence exchange heightens the risk of a broader conflict that could disrupt key oil shipping lanes.
2. Oil Rally Benefits ExxonMobil
Brent crude is trading at $85 after a 40% year-to-date gain, supported by a 43% probability of Strait of Hormuz closure by month-end. ExxonMobil’s refining margins have widened and earnings forecasts have risen amid these heightened supply risks, setting the stage for potential $100‐plus prices if tensions persist.