Prices rise with attacks in the Strait of Hormuz and fears over energy supplies
Oil prices reached their highest level in 4 weeks this Tuesday (July 14, 2026), according to information from Reuters. The increase was driven by the intensification of the conflict between the United States and Iran, which raised concerns about supplies through the Strait of Hormuz.
Brent reached its highest level since June 12th. WTI reached its highest value since June 16, the date before the signing of a memorandum of understanding between the US and Iran to end hostilities, on June 17. Brent futures rose $3.88, equivalent to 4.66%, to $87.18 per barrel by 8 a.m. West Texas Intermediate crude rose $2.68, or 3.44%, to $80.82 per barrel at the same time.
Hostilities intensified earlier this week. US President Donald Trump (Republican Party) reinstated the blockade on Iranian shipping and proposed charging a 20% tax to protect the Strait of Hormuz.
Two UAE oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz. The UAE Ministry of Defense reported that 1 crew member died and 8 were injured in the attacks.
Maritime transport data released on Monday (13. Jul) indicated that the number of oil tankers transiting through the Strait of Hormuz fell to the lowest level in 2 months.
Source: https://www.poder360.com.br/poder-internacional/petroleo-bate-maior-valor-em-4-semanas-apos-escalada-da-guerra/
