Oil tops $85 as Hormuz tanker attacks deepen crisis

Oil & Gas Middle East· July 14, 2026

Crude oil prices have surpassed $85 per barrel following reports of tanker attacks in the Strait of Hormuz. These incidents have exacerbated an ongoing regional crisis, directly impacting the security of global energy transit routes. For the Oil & Gas market, this surge reflects increased volatility and a growing risk premium associated with Middle Eastern supply stability.

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