Brent oil tops $90 as US, Iran expand strikes in the Middle East
Shipping through the Strait of Hormuz fell as U.S. and Iranian strikes lifted crude above $90 and renewed inflation concerns, traders said.
- On Monday, July 20, 2026, Brent crude prices surged 3% to surpass $90 a barrel as the United States and Iran intensified strikes, disrupting energy shipments through the Strait of Hormuz.
- Tit-for-Tat strikes have broadened beyond military targets to include bridges, utilities, and ports, dimming prospects for reviving last month's fragile ceasefire in the Middle East.
- U.S. Central Command stated strikes target Iranian capabilities used to attack commercial vessels, while transit through the Strait of Hormuz dropped to four vessels on Sunday.
- Global inflation fears have resurfaced as the 20% rally in oil prices this month pressures equities, with Barclays analyst Amarpreet Singh warning markets remain complacent about inventory risks.
- Upcoming activity data may cement expectations for Federal Reserve interest rate hikes this autumn as investors seek signs of economic resilience amid the energy crisis.
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Why the escalation between the US and Iran could hit fuel prices and help RussiaDue to the escalation of the conflict between the US and Iran, the price of Brent oil has risen to $91 per barrel. In Ukraine, fuel prices could rise by several hryvnias per liter in just one or two weeks.
Oil prices rose by about 3 per cent on Monday, and Brent exceeded $90 per barrel, at a time when the escalation of hostilities between the United States and Iran in the Middle East limited oil shipments across the Strait of Hormuz. Brent crude futures were recorded at $2.77, or 3.14%, to $90.87, reaching their highest level since June 11 and expanding profits after rising by 15.9 per cent last week, their largest weekly increase since April. Wes…
The price of both oil and gas is rising sharply on Monday, following continued American and Iranian attacks on the Strait of Hormuz. “If the situation remains as it is today, it will mean gradually higher prices on the crude oil market and thus also higher prices for fuel,” says commodity analyst Christian Kopfer.
Oil Surges As US Expands Iran Strikes While Tehran Executes Protesters
by Stefan J. Bos, Worthy News Chief International Correspondent TEHRAN/JERUSALEM (Worthy News) – A gallon of regular gasoline in the United States climbed to about $4 and benchmark Brent crude rose above $90 a barrel Monday, further fueling a global energy crisis after the United States launched fresh airstrikes against Iran following the death of another American service member, while Tehran executed at least two more anti-government protesters…
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