Global oil prices surged by more than 4% today, Monday, July 13, 2026, driven by escalating military clashes between Iran and the United States and mounting concerns over potential disruptions to tanker transit through the Strait of Hormuz. Conversely, global gold prices declined by more than 1%.
According to a Reuters report:
Brent Crude: Rose by 4.3% to approximately $79.31 per barrel.
U.S. West Texas Intermediate (WTI): Rose by 4.4% to settle at $74.62 per barrel.
Markets expressed deep concern over the security of energy supplies following fresh U.S. strikes against targets in Iran and subsequent assertions by the Islamic Republic that the Strait of Hormuz could be closed once again.
