Oil prices keep rising despite emergency stockpile release

Oil prices have continued to climb even after the United States and other countries agreed to release emergency petroleum reserves. The focus has shifted to the Strait of Hormuz, a critical waterway for global oil shipments, as a potential source of further price instability.

Fitch, a major credit rating agency, told Al Arabiya that oil price volatility is expected to continue into 2026, with the situation around the Strait of Hormuz being a decisive factor. The strait's potential closure is seen as a major pressure point in regional tensions.