Oil rose for the third day, after America threatened to launch more strikes, hours after resuming its blockade on Iranian shipments through the Strait of Hormuz.

Brent crude, the global benchmark, advanced towards $86 a barrel after jumping 11% in the previous two sessions, while Nymex crude exceeded $80.

U.S. forces said they concluded their strikes early Wednesday after 7 hours, targeting dozens of military sites near the strait and along the coast, to undermine Iran's ability to threaten commercial navigation and civilian ship crews.

Meanwhile, U.S. President Donald Trump on Tuesday backed away from a plan to impose 20% tariffs on shipments transiting the Strait of Hormuz, in support of shipping companies shaken by the collapse of the ceasefire and the possibility of further disruptions in the world's most vital energy artery, through which a fifth of global oil and gas typically passes.

Mon, 13 2026

Chris Weston, head of research at Pepperstone Group, said, "While oil has begun to find some balance after its rise from $70, crossing the Strait of Hormuz still requires courage from ship owners, with the risk of attacks remaining very real," adding, "The broader geopolitical backdrop continues to deteriorate, providing ongoing support for crude prices and keeping buyers ready to return to the market if prices head towards $90."

Wed, 15 2026

Oil prices jump as navigation disrupted

Oil has jumped in recent days amid renewed fighting in the region, including attacks on ships carrying crude and Gulf countries, leading to nearly complete halts in navigation, and prices rose to their highest in a month, recovering part of a 30% decline in the second quarter, as the escalation of conflict revived concerns about supplies from the region.

Over the past month, producers in the Arabian Gulf began marketing additional crude volumes after a temporary peace agreement eased concerns about exports, and the UAE in particular achieved great success in moving barrels using shuttle tankers sailing in darkness or with their transponders turned off.

Elsewhere, an industry group said U.S. crude oil inventories fell by 600,000 barrels last week, which would be the 11th decline in 12 weeks if confirmed by official data on Wednesday.

Tue, 14 2026

Gold near $4,050 as US inflation slows

Gold stabilized after U.S. monthly inflation came in below expectations, easing some pressure on the Fed to raise interest rates.

The precious metal hovered near $4,050 an ounce, after rising 1.3% in the previous session, and U.S. consumer prices fell in June for the first time in six years, pushing the bond market higher, with traders stepping back from bets on an early rate hike this month, while silver rose 0.2% to $59 an ounce, after gaining 1.8% on Tuesday.

The biggest drop in gasoline prices since 2022 gave American consumers some relief, as the worst effects of the war-induced energy shock began to recede, but a recent escalation in fighting has been accompanied by a fresh rise in oil, threatening to prolong inflationary fallout, increasing the likelihood that central banks will keep interest rates higher for longer, creating headwinds for precious metals that yield no return.

Tue, 14 2026

Meanwhile, Fed Chairman Kevin Warsh avoided signaling more tightening during 3 hours of testimony before Congress on Tuesday, explaining that interest rates are among the options available to him to keep inflation within the promised 2% target, saying, "We have the tools to do that. In the coming period, I will ask my colleagues to have a good discussion about the extent and timing of our need to use those tools."

Gold regains some gains after second-quarter losses

Gold rose slightly this month after losing 14% in the second quarter, its worst performance since 2013. The broader decline was driven by rising expectations that the Fed might tighten policy, with the dollar and bond yields rising, and gold-backed exchange-traded funds, a major vehicle for investors to gain exposure to gold, have seen continuous net outflows in recent months.

Wed, 08 2026

The unexpected sharp slowdown in inflation gives the Fed more time to consider its options, and swap traders now price only a 17% probability of a rate hike in July, down from 50% the previous day.

Justin Lin, analyst at Global X, said, "The CPI reading will help cement the $4,000 level as a floor for gold, but Warsh's remarks were largely hawkish, limiting enthusiasm about the possibility of lower rates," adding, "Also, this round of CPI data does not account for the renewed U.S.-Iran strikes and rising oil prices, so markets may downplay the reading in favor of future signals."