Oil jumps on Iran strikes, Hormuz shipping incident

However, despite the recent rally, crude remains well below the peak of $126 a barrel reached during the early phase of the conflict.

Reliability 64 · high22 h agoJuly 20, 2026

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Summary

Since the war began, 16 U.S. service members have been killed and over 430 wounded. US benchmark West Texas Intermediate gained 2.39 per cent to US$84.46. Brent crude for September delivery rose 2.72 per cent to US$90.50 a barrel by around 1am GMT (9am, Singapore time).

Furthermore, Iranian authorities said Saturday that at least 50 people have been killed and more than 500 wounded in the latest U.S. strikes. British maritime agency earlier reported vessel on fire near Oman, said cause remained unverified. Iran's Revolutionary Guards say 2 oil tankers intending to transit Strait of Hormuz exploded.

Factual coreconfirmed by several independent voices

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Since the war began, 16 U.S. service members have been killed and over 430 wounded.
according to The Boston Globe
US benchmark West Texas Intermediate gained 2.39 per cent to US$84.46.
according to Channel News Asia
Brent crude for September delivery rose 2.72 per cent to US$90.50 a barrel by around 1am GMT (9am, Singapore time).
according to Channel News Asia
Iranian authorities said Saturday that at least 50 people have been killed and more than 500 wounded in the latest U.S. strikes.
according to The Boston Globe
British maritime agency earlier reported vessel on fire near Oman, said cause remained unverified
according to Anadolu Agency
Iran's Revolutionary Guards say 2 oil tankers intending to transit Strait of Hormuz exploded.
according to Anadolu Agency