Brent crude surged 9.6 per cent to close at US$83.30 per barrel on July 13. Read more at straitstimes.com. Read more at straitstimes.com.

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.

As of 5:21 p.m. Moscow time, Brent crude was up 5.29%, trading at $80.03 per barrel

Iran says it will not allow Washington to intervene in the Strait of Hormuz

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

Crude oil futures climb as Trump reinstates a blockade on Iranian ports, significantly impacting shipping costs and market dynamics.

Oil prices climbed over 2% after U.S