Crude oil prices soared past $85 a barrel as the US reinstated a naval blockade on Iran, heightening fears over supply disruptions through the critical Strait of Hormuz.
Brent crude is currently trading at $85.74
Jul 15, 2026
09:40 am
What's the storyOil prices have surged past the $85-a-barrel mark, amid fears of supply disruptions in the Middle East.
The spike comes after the US reinstated a naval blockade on Iran and intensified military action against it.
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