Global Oil Prices Jump Over 4% as US-Iran Tensions Raise Supply Concerns
Global oil prices surged more than 4% on Monday, with investors reacting to escalating tensions between the United States and Iran and renewed concerns over potential disruptions to crude supplies through the Strait of Hormuz. Brent crude climbed close to USD 79 per barrel, while U.S. West Texas Intermediate (WTI) rose over 4% to around USD 74.32 per barrel.
Global oil prices surged more than 4% on Monday, with investors reacting to escalating tensions between the United States and Iran and renewed concerns over potential disruptions to crude supplies through the Strait of Hormuz. Brent crude climbed close to USD 79 per barrel, while U.S. West Texas Intermediate (WTI) rose over 4% to around USD 74.32 per barrel.
Oil Prices Rally On Geopolitical Risks
Brent crude futures gained more than 4% to trade near USD 79 a barrel, while WTI futures advanced approximately 4.18% to USD 74.32 per barrel during early trading on Monday.
The sharp rise came as markets priced in the possibility of supply disruptions following heightened geopolitical tensions in the Middle East. Traders are closely monitoring developments involving the United States and Iran, which have increased uncertainty across global energy markets. US-Iran Ceasefire Collapses As Fresh Strikes, Strait of Hormuz Closure Deepen Middle East Crisis.
Strait Of Hormuz Remains In Focus
Market sentiment was also influenced by concerns over the Strait of Hormuz, one of the world's most important oil shipping routes. Any disruption to traffic through the narrow waterway could affect global crude supplies, as a significant share of internationally traded oil passes through the strait. US-Iran Conflict Escalates: Tehran Targets Bahrain, Qatar and Kuwait After Fresh US Airstrikes.
Reports of threats to close the Strait of Hormuz have added to supply concerns, prompting investors to seek protection against potential disruptions.
Markets Watching Further Developments
Analysts said oil prices are likely to remain volatile as markets assess geopolitical developments and their potential impact on energy supplies. Investors will continue to monitor official statements and any changes in shipping activity in the region, with further escalation likely to influence crude prices in the coming days.
(The above story first appeared on LatestLY on Jul 13, 2026 07:32 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
