Oil prices rise as U.S. resumes strikes on Iran and tensions threaten Strait of Hormuz shipping
How left and right are reading this
- Both agree
- Threats to the Strait of Hormuz carry immediate global costs, as renewed fighting disrupted a vital energy corridor and further weakened an already fragile diplomatic track.
- They split on
- Whether the story is about ordinary people bearing the costs of military escalation, or about the necessity of strategic self-reliance when hostile actors can disrupt supply.
The Facts
- Oil prices rose as fighting between the United States and Iran intensified, with Brent and U.S. crude both posting gains during Wednesday trading.
- The United States reimposed a naval blockade on Iranian ports and carried out a new round of strikes on Iranian military targets.
- Iran’s Islamic Revolutionary Guard Corps said the Strait of Hormuz would remain closed and also threatened other regional export routes used by the United States and its allies.
- The renewed hostilities have added to supply disruptions in and around the Strait of Hormuz, a key route for global energy shipments.
- Before the war, about one-fifth of the world’s oil and liquefied natural gas moved through the Strait of Hormuz, making any disruption there important for global energy markets.
- The renewed blockade and strikes have undermined diplomatic efforts linked to a June 17 U.S.-Iran protocol intended to sustain an earlier ceasefire.
Analytical frames for this storyTap to explore
Context
Why are oil markets reacting to events in the Strait of Hormuz?
Traders are focused on the Strait of Hormuz because it is a major energy shipping route. Before the war, about one-fifth of the world’s oil and liquefied natural gas passed through it, so disruptions there can affect global supply expectations and prices CNA,Aol.
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Wire services (12)
ReutersGlobal Banking & Finance ReviewOil Prices Rise for 4th Day After US Strikes on Iran Heighte...
Independent coverage (50)
CNAOil prices rise for 4th day as US strikes on Iran raise fear...
The Star Oil edges up on smaller US inventory draw
The Business TimesOil prices make small gain on smaller US inventory draw
AsiaOneAsiaOne
Bradenton HeraldOil prices make small gain on smaller US inventory draw
ETAuto.comOil prices rise 1% as Middle East hostilities intensify
The Daily StarOil rises 2% as Mideast hostilities worsen
Bradenton HeraldOil prices sink, shrugging off renewed Middle East fighting
see.newsTrump resumes Iran port blockade and threatens strikes on en...
American Journal of Transportation | AJOT | 1-800-599-6358Oil prices rise 2% as hostilities worsen in the Middle East
Bradenton HeraldOil prices rise 1% as hostilities worsen in the Middle East
Diaspora Digital Media (DDM News) - Nigeria Breaking News, Africa and World News and Updates -Fresh Middle East War Sends Oil Prices Climbing - Diaspora D...
Bradenton HeraldOil prices rise 2% as hostilities worsen in the Middle East
Amwal Al GhadOil extends gains on Wednesday
Ladepeche.frGuerre au Moyen-Orient : détroit d'Ormuz refermé par Téhéran...
The Daily StarOil prices rise as hostilities worsen in the Middle East
Bradenton HeraldOil prices rise as hostilities worsen in the Middle East
The HinduOil prices rise as hostilities worsen in West Asia
TV5MONDE"Ça va vraiment mal tourner pour eux": Donald Trump menace d...
The Express TribuneOil prices rise as hostilities worsen in the Middle East
midilibre.frGuerre au Moyen-Orient : "Ça va vraiment mal tourner"... Apr...
The Indian ExpressOil rises to $86 after US restores Iran blockade, threatens ...
Le Huffington PostLe protocole de paix " démantelé ", le détroit d'Ormuz de no...
Yahoo NewsLe protocole de paix " démantelé ", le détroit d'Ormuz de no...
Le QuotidienL'Iran affirme que le détroit d'Ormuz restera fermé jusqu'à ...
Viral Mag - Votre source d'actualitésEscalade au Moyen-Orient : États-Unis et Iran sur le Fil du ...
Asharq Al-Awsat EnglishOil Prices Rise as Hostilities Worsen in the Middle East
Nice-MatinGuerre au Moyen-Orient : nouveaux échanges de frappes, Washi...
Le TelegrammeGuerre au Moyen-Orient : nouveaux échanges de frappes, Washi...
RTBFQuatrième nuit conséctutive de frappes au Moyen-Orient, Wash...
marine-oceans.comNouveaux échanges de frappes au Moyen-Orient, Washington rep...
Offshore EngineerOil Rises 2% as Middle East Hostilities Escalate
GEO TVOil prices rise as hostilities worsen in the Middle East
Economy Middle EastOil prices rise 0.96 percent to $85.54 as Hormuz supply risk...
DH.beDIRECT-Guerre au Moyen-Orient : "Le détroit d'Ormuz restera ...
AsiaOneAsiaOne
BOE ReportOil prices rise as hostilities worsen in the Middle East
TF1 INFOEN DIRECT - Moyen-Orient : nouvelles frappes américaines en ...
Le NouvellisteLes frappes s'intensifient au Moyen-Orient, Washington repre...
ETAuto.comOil rises after US-Iran hostilities flare again with strikes...
timelineNouveaux échanges de frappes au Moyen-Orient, Washington rep...
ETCFO.comOil rises after US-Iran hostilities flare again with strikes...
Economic TimesOil Price Today (July 15): Crude oil above $86 as US-Iran ex...
Business StandardOil prices rise as renewed US-Iran strikes fuel fears over e...
Le Defi Media GroupLes frappes s'intensifient au Moyen-Orient, Washington repre...
CNAOil prices rise 2% as hostilities worsen in the Middle East
CNAOil prices sink, shrugging off renewed Middle East fighting
CNAOil prices rise as hostilities worsen in the Middle East
CNAOil prices rise 1% as hostilities worsen in the Middle East
Le ParisienGuerre au Moyen-Orient : Téhéran accuse Washington d'avoir "...
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