Shafaqna English- On Tuesday(14 Jul 2026), oil prices jumped by nearly 3% to reach their highest point in a month, following the U.S. decision to reinstate its naval blockade against Iran and an escalation of attacks between the two nations in the Strait of Hormuz, which has increased concerns over the security of global energy supplies.
By 3:30 AM GMT, Brent crude was up $1.50, reflecting a 1.8% rise, to hit $84.80 per barrel, and U.S. WTI crude had gained $1.70, or 2.2%, reaching $79.84 a barrel.
Source: Reuters