Crude oil prices soared past $81 as Iran reportedly closed the Strait of Hormuz following escalating regional conflicts, while Asian stock markets reached record highs.
Brent crude futures rose to $81.04 per barrel
Jun 22, 2026
09:28 am
What's the storyOil prices surged on Monday after Iran announced the closure of the Strait of Hormuz, a major chokepoint for global energy trade.
The move comes amid Israeli attacks on Lebanon and has raised fresh concerns over energy supplies and overshadowed US-Iran peace talks.
Oil Price Today (June 22): Crude oil rises above $80 as Iran shuts Strait of Hormuz again. What are experts saying?
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Brent crude futures rose 54 cents, or 0.67%, to $81.11 a barrel, after briefly touching $82.30 at the start of trading. U.S. West…
The conflict in the Middle East has sent oil prices soaring, as Brent Crude hit a new 52-week high on Monday.
Oil prices have soared more than14% this week as tanker traffic through the Strait of Hormuz has ground to a halt. European…
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.
Oil prices rose sharply after Iran claimed it had closed the Strait of Hormuz in response to fresh U.S. military strikes.
Oil prices edged lower as the Strait of Hormuz reopened, with Brent crude at $79.49 and WTI at $76.36, while markets shifted…
