Shafaqna English- Oil saw additional gains on Wednesday(15 Jul 2026), driven by Trump’s restoration of a naval blockade around all Iranian ports and Tehran’s concurrent strikes on American military and economic assets in the area.
At 0400 GMT, Brent futures were up 99 cents, marking a 1.2% gain to $85.72 a barrel. WTI futures also moved higher, adding 64 cents (0.8%) to settle at $79.98 a barrel.
Crude prices closed Tuesday(14 Jul 2026) up 2%, hitting a one-month peak, after attacks worsened the supply bottleneck in the Strait of Hormuz — the strategic channel that had been carrying nearly 20% of global oil and LNG traffic prior to the outbreak of the U.S.-Israeli conflict with Iran.
Source: Reuters