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Oil Surges as US Strikes Targets in Iran Following Ship Attacks

Oil Surges as US Strikes Targets in Iran Following Ship Attacks
Bloomberg Markets Tuesday 07 July 2026, 22:01 UTC By Kanoko Matsuyama 1 min read
Key Points

Energy Oil Surges as US Strikes Targets in Iran Following Ship Attacks Oil jumped — after gaining almost 3% on Tuesday — as the US launched a wave of strikes against Iran in retaliation for a spate of attacks on shipping in the Strait of Hormuz. West Texas Intermediate surged above $72 a barrel, while Brent closed near $74. US forces “have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping,” US Central Command said...

Energy Oil Surges as US Strikes Targets in Iran Following Ship Attacks Oil jumped — after gaining almost 3% on Tuesday — as the US launched a wave of strikes against Iran in retaliation for a spate of attacks on shipping in the Strait of Hormuz. West Texas Intermediate surged above $72 a barrel, while Brent closed near $74. US forces “have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping,” US Central Command said in a social-media post. Explosions were heard on an island close to the strait, Iranian news agency Mehr reported.
Iran (LOCATION) US (LOCATION) the Strait of Hormuz (LOCATION) West Texas Intermediate (ORG) Brent (PERSON) US Central Command (ORG) Iranian (ORG) Mehr (LOCATION)
Originally published by Bloomberg Markets Read original →

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