Business

Oil Prices Surge Due to Iran's Closure of Strait of Hormuz

Updated 2026-07-13 09:40 UTC 1 source Negative

Oil prices have surged by as much as 5% after Iran declared the Strait of Hormuz closed. The move has sparked concerns over global energy supply and trade tensions between the U.S. and Iran.

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MarketWatch

Oil prices surge as much as 5% after Iran declares Strait of Hormuz is closed

The week is kicking off with fresh spikes for oil prices as the U.S. and Iran continued to exchange attacks.

2026-07-13 09:27 UTC