Oil prices rise as hostilities worsen in West Asia
Oil prices surged to a one-month high on July 14, 2026, with Brent futures rising 1.2% to $85.72 per barrel and West Texas Intermediate gaining 0.8% to $79.98. The increase followed heightened tensions in the Strait of Hormuz, where U.S. President Donald Trump reinstated a naval blockade on Iranian ports amid Iranian strikes on U.S. infrastructure. Analysts expect continued volatility in oil markets as hostilities in West Asia escalate.