What was the price of WTI crude during the crisis?

It rose from $57 per barrel at the start of 2026 to nearly $115 on April 7.

Which energy ETFs benefited the most?

The VanEck Oil Services ETF (OIH) was among the top beneficiaries, along with XLE and XOP.

Is the crisis still ongoing?

The article does not provide updated information, but geopolitical tensions remain.

Energy ETFs Surge Over 50% as Hormuz Crisis Reshapes Oil Markets in 2026

The Hormuz crisis in April 2026 effectively closed the strait to tanker traffic, sending WTI crude from $57 to $115 per barrel. Energy ETFs like OIH surged over 50%, with volatility persisting.

July 6, 2026

2 min read

Source: 24/7 Wall St.

Key Numbers

WTI start

$57/barrel

WTI peak

$115/barrel

Brent start

$67/barrel

Brent peak

$138/barrel

ETF gain

50%+

According to 24/7 Wall St., global oil markets experienced unprecedented turmoil in 2026 after the Strait of Hormuz effectively closed to tanker traffic. West Texas Intermediate crude opened the year near $57 a barrel and spiked to almost $115 on April 7. Brent followed a parallel path, climbing from about $67 in January to a $138 intraday high in April.

Affected ETFs

These moves drove energy ETFs up by more than 50%, led by the VanEck Oil Services ETF (OIH). Other funds such as XLE and XOP also benefited from the sharp rise in oil prices.

Geopolitical Context

The Strait of Hormuz is a vital waterway through which about 20% of global oil supplies pass. Its closure caused a severe supply shortage, pushing prices to record levels. Tensions remain high, keeping markets on edge.

What This Means for Investors

Energy ETFs offer broad exposure to the oil and gas sector but carry high geopolitical risk. Investors should monitor developments in the Middle East and their potential impact on prices.

Frequently Asked Questions

The effective closure of the Strait of Hormuz to tanker traffic caused a severe oil supply shortage, driving up prices and boosting energy ETFs.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.