Oil prices rise as hostilities worsen in West Asia
Oil extended gains on Wednesday (July 15, 2026) as U.S. President Donald Trump reimposed a naval blockade on all Iranian ports and Tehran launched strikes on U.S. infrastructure in the region.Brent futures climbed 99 cents, or 1.2%, to $85.72 a barrel at 04.00 GMT. Trump told Fox News in an interview aired on Tuesday night on "Special Report with Bret Baier".ALSO WATCH Watch: Iran retaliates against U.S. bases in Bahrain and KuwaitIran's Army said early on Wednesday that it had launched drone attacks against U.S. positions at Jordan's Azraq base.
- ▪Oil extended gains on Wednesday (July 15, 2026) as U.S.
- ▪President Donald Trump reimposed a naval blockade on all Iranian ports and Tehran launched strikes on U.S. infrastructure in the region.Brent futures climbed 99 cents, or 1.2%, to $85.72 a barrel at 04.00 GMT.
- ▪Trump told Fox News in an interview aired on Tuesday night on "Special Report with Bret Baier".ALSO WATCH Watch: Iran retaliates against U.S. bases in Bahrain and KuwaitIran's Army said early on Wednesday that it had launched drone attacks
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Oil extended gains on Wednesday (July 15, 2026) as U.S. President Donald Trump reimposed a naval blockade on all Iranian ports and Tehran launched strikes on U.S. infrastructure in the region.Brent futures climbed 99 cents, or 1.2%, to $85.72 a barrel at 04.00 GMT. West Texas Intermediate futures gained 64 cents, or 0.8%, to $79.98 a barrel.West Asia War LIVE:Oil prices closed up 2% at a one-month high on Tuesday (July 14, 2026) as attacks exacerbated a supply disruption in the Strait of Hormuz, through which about a fifth of the world's oil and liquefied natural gas passed prior to the beginning of the U.S.-Israeli war on Iran."While the physical oil market remains adequately supplied, any further escalation involving the Strait of Hormuz or additional sanctions on Iranian…
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