By Isabel Wang and Myra P. Saefong

Brent crude climbed above $78 and WTI gained over 3% as escalating Iran-US tensions and threats to Strait of Hormuz shipping raised global supply concerns.

Trump says the U.S. “will be reimbursed” for helping ships through the Strait of Hormuz. The international oil benchmark, Brent, surpassed $80 per barrel.

Trump reinstates the Hormuz blockade as oil prices rise above $79. WTI reaching $110 by July 2026 at 2.6% YES.

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…

Oil prices climbed over 2% after U.S

US President Donald Trump says he wants to charge vessels 20% tax to cross strait