Oil tops $79 as Hormuz standoff deepens
Global oil prices have climbed sharply after the United States and Iran exchanged fresh military strikes in an escalating contest over control of the Strait of Hormuz.
July 13, 2026 (MLN): Global oil prices have climbed sharply after the United States and Iran exchanged fresh military strikes in an escalating contest over control of the Strait of Hormuz. Currently, Brent crude futures is up, 4.05%, at $79.09 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) crude futures is up by $2.89, or 4.05%, to $74.3 per barrel by [09:20 am] PST. The US milit...