The Hindu·4 min read·medium
Oil hits one-month high as U.S., Iran step up attacks in Strait of Hormuz
R
Reuters
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Oil prices reached a one-month high following renewed U.S. naval blockades and military strikes against Iran in the Strait of Hormuz. The escalation has disrupted shipping lanes and resulted in casualties, heightening global energy supply concerns.
Oil prices rose nearly 3% on Tuesday (July 14, 2026) to their highest in four weeks, as the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows.
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