Oil prices jump as US and Iran trade attacks over Strait of Hormuz
Brent crude oil prices rose over 4% as military hostilities between the US and Iran intensified around the Strait of Hormuz. The US military is conducting strikes to protect commercial shipping, while Iran threatens consequences for unauthorized transit.
Why it matters
Escalating conflict in a major oil transit chokepoint directly impacts global energy prices and market stability.
Brent crude climbs more than 4 percent as Washington and Tehran clash over control of critical waterway.
x whatsapp-stroke copylink google Add Al Jazeera on Google info A worker fills the fuel tank of a customer's motorbike at a petrol station in Peshawar, Pakistan [Bilawal Arbab/EPA] By John Power Published On 13 Jul 2026 13 Jul 2026 Oil prices have jumped amid the latest outbreak of hostilities between the United States and Iran over the Strait of Hormuz.
Brent crude, the main international benchmark, rose more than 4 percent on Monday as the US and Iran traded attacks amid their escalating standoff over control of the critical waterway.
Brent futures for September delivery stood at $78.82 a barrel as of 08:00 GMT, the highest since June 22.
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