Oil surged to almost $87 a barrel, its highest level in a month after the United States and Iran traded attacks as they vied over the Hormuz Strait.

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.

Oil prices surged as the US and Iran clashed over the Strait of Hormuz. WTI reaching $110 in July 2026 at 1.2% 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…