Oil prices hit 1-month high as US-Iran attacks dim Strait of Hormuz outlook
Brent crude oil prices have surged to a one-month high following renewed military hostilities between the United States and Iran in the Strait of Hormuz. The escalation includes retaliatory strikes and threats of renewed blockades, creating significant volatility in global energy markets.
Why it matters
The Strait of Hormuz is a critical global energy chokepoint; instability here directly impacts international oil prices and global economic stability.
Brent crude nears $85 a barrel amid renewed hostilities between Washington and Tehran.
x whatsapp-stroke copylink google Add Al Jazeera on Google info Villagers at a fuel station in Halvad, Gujarat, India [File: Amit Dave/Reuters] By John Power Published On 14 Jul 2026 14 Jul 2026 Oil prices have surged to their highest level in a month as renewed hostilities between the United States and Iran continued for a third consecutive day, dampening hopes for a return to normality in the Strait of Hormuz.
Brent crude, the primary international benchmark, rose as much as 3.8 percent on Tuesday, extending a 9.6 percent gain from the previous day.
Brent futures for September delivery stood at $85.92 a barrel as of 08:00 GMT, the highest since June 15.
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