Oil prices rise as U.S. and Iran fight for control of Strait of Hormuz

Biztoc.com - July 12, 2026

Oil prices rise as U.S. and Iran fight for control of Strait of Hormuz

Oil prices rose Sunday evening after the U.S. and Iran traded strikes as they contest control of the Strait of Hormuz, one of the most important trade routes for global energy supplies. U.S. crude oil futures were up 3.4% to $73.87 per barrel by 6:03 p.m. ET.…

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