Business

Oil Prices Surge After Hormuz Blockade

Updated 2026-07-13 14:40 UTC 1 source Negative

U.S. oil prices jumped above $75 a barrel after President Trump reinstated the Strait of Hormuz blockade on Iranian ships, leading to disputes between the U.S. and Iran.

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CNBC

U.S. oil jumps above $75 a barrel after Trump reinstates Strait of Hormuz blockade on Iranian ships

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

2026-07-13 14:36 UTC