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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192 Articles
Oil at 6-week high as war intensifies
Oil prices rose to their highest in almost six weeks on Wednesday, with Brent crude surpassing $95 a barrel, on mounting concerns about disruptions to Middle Eastern supply routes because of escalating hostilities between the US and Iran and threats to shipping by the Iran-backed Houthi militia in Yemen.
Oil spikes to $95 mark as Middle East conflict drags on
According to reporting from The New York Times, oil prices rose on Wednesday as escalating military actions between the United States and Iran continued to unsettle energy markets, raising fresh concerns over potential disruptions to global oil supplies. The latest flare-up follows a period of relative calm after earlier cease-fire efforts, with both sides exchanging […]
The war unfolding in the Middle East expanded the navigational threats in the Strait of Hormuz and caused the price of oil to fire again this month. The scenario increased the price lag of fuels charged by Petrobras on the market
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