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17
Jul 2026
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Oil prices soar as US bombs Strait of Hormuz sites and Iran strikes US bases and ships

Ongoing US strikes against Bandar Abbas, Sirik, Jask and Bushehr, triggering Iranian missile attacks on US bases in Bahrain and Jordan and a fatal strike in Khuzestan

Trump’s Iran rupture rattles markets as stocks slide, oil jumps more than 5.5% and bond yields surge

Renewed Middle East tensions, US strikes on Iran and Trump’s trade threat against Spain trigger a sharp sell-off across global markets

Ceasefire pushes oil prices below $95, with Brent moving toward $90

The US–Iran de-escalation and the reopening of the Strait of Hormuz sharply drive prices down, reducing fears of a new energy crisis

Trump is considering asking Gulf countries to pay the cost of the war with Iran – Israeli strikes on Hezbollah buildings in Lebanon, sirens in Tel Aviv (Update)

Live updates: Israeli troops advance in Lebanon as oil prices surge and tensions between the U.S. and Iran escalate

Oil: Brent holds $100 as Iran conflict enters third week

Energy markets remain tense, with oil holding above $100 as the conflict between the US, Israel and Iran escalates and navigation in the Strait of Hormuz remains restricted

Oil markets remain nervous, Brent above $90 again

The oil market remains highly volatile, with prices affected by the conflict in the Middle East and discussions about a possible release of strategic reserves

South Korea imposes a fuel price cap for the first time in 30 years due to the surge in oil prices

The rise in oil prices, due to the crisis in the Middle East, is pushing South Korea to take emergency measures

Oil market hikes at $120 a barrel: G7 finance ministers hold an emergency meeting

Crude oil at its highest levels since 2020 - G7 countries consider coordinated release of strategic oil stocks in cooperation with the IEA in an effort to stabilise energy markets

Strait of Hormuz: How China, India and Russia are shaping the new energy equation and oil prices

The conflict in the Persian Gulf is bringing the role of Russia into the spotlight as an alternative energy supplier for Asia’s energy-dependent economies. According to JMIC, the Strait of Hormuz is now almost closed to shipping

Oil prices fall 3% after Trump’s statements on Iran

The barrel of North American WTI was down 3% at $60.16, while North Sea Brent was down 2.87% at $64.61

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