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EN590 Commodities GroupCrude Oil 2026-07-13T10:03:55+00:00
July 13 (Reuters) - Oil prices surged more than 2% on Monday after renewed military strikes between the United States and Iran reignited concerns over energy shipments through the Strait of Hormuz. Brent crude futures were up $1.67, or 2.2%, to $77.68 at 0955 GMT, while U.S. West Texas Intermediate crude was up $1.59, or 2.23%, to $73.00 a barrel. "The focus will remain on the number of inbound tankers as a lower number could impact production, so currently we see a risk premium but as well a disruption risk supporting prices," said UBS analyst Giovanni Staunovo. Fresh U.S. and Iranian strikes over the weekend fueled fears of a renewed escalation. Tehran targeted U.S. facilities across the Gulf on Sunday and said it had again closed the Strait of Hormuz. Iran's Revolutionary Guards said
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