Brent crude jumps on Middle East tensions escalation

08:38; 13 July 2026 year

### Oil Prices Surge Amid Renewed US-Iran Conflict Threatening Strait of Hormuz Shipments Oil prices jumped on July 13 following renewed clashes between the United States and Iran, which have put energy supplies through the Strait of Hormuz at risk. According to market data, the price of Brent crude futures rose by 3.28%, reaching $79.31 per barrel. The cost of American WTI crude also increased by 3.09%, climbing to $73.62 per barrel. Earlier, the US carried out a series of strikes against Iran. In response, Iranian armed forces targeted American military installations in Jordan, Kuwait, Bahrain, Qatar, and Oman.

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