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EN590 Commodities GroupCrude Oil 2026-07-13T21:03:22+00:00
July 13 (Reuters) - Oil futures surged nearly 9% on Monday and equities fell as conflict between the United States and Iran re-ignited over the weekend, once again throttling the flow of goods through the key Strait of Hormuz. Over the weekend, Tehran had said it closed the strait, a vital global artery for oil-and-gas shipping. President Donald Trump responded Monday by saying the U.S. was reinstating its blockade of Iranian shipping in the Gulf. Trump also promised to keep the strait open for a fee, though the U.S. has not been able to wrest control of the waterway from Iran since the outset of the war at the end of February. The revival of the blockade jolted oil markets that had already been rallying after the two sides had exchanged missile and drone attacks over the weekend. U.S.
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