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Fuel prices rise 4%, new military attacks threaten shipments to Hormuz
2026-07-13 10:45:00 / EKONOMI&SOCIALE
Oil prices rose more than 4% on Monday as energy shipments through the Strait of Hormuz remained under threat as the US and Iran announced new military strikes.
Brent crude futures rose $3.10, or 4.08%, to $79.11 by 03:25, while U.S. West Texas Intermediate crude rose $2.95, or 4.11%, to $74.36 a barrel.
US forces completed another wave of strikes against Iran on Sunday, striking dozens of targets in multiple locations with precision munitions, Central Command said. Iran's Revolutionary Guard said on Monday it attacked US military bases in Kuwait and Bahrain.
US President Donald Trump declared on Sunday that the Strait of Hormuz is open to commercial traffic, although Iran previously said it closed the strait after a ship traveled an unapproved route and was hit.
About 20% of the world's oil and liquefied natural gas passed through the strait before the war began in late February.
Six ships passed through the strait on Sunday, ship-tracking data from Kpler showed, the lowest number in five weeks.
The escalating attacks further cast doubt on the future of an interim US-Iran deal signed last month that aimed to reopen the strait and end the war after another 60 days of negotiations.
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