Brent Crude Rises Above $75 A Barrel After US Launches 'Powerful Strikes' Against Iran

Published 8 July 2026 · finance

Brent Crude Rises Above $75 A Barrel After US Launches 'Powerful Strikes' Against Iran Published By, Last Updated: July 08, 2026, 07:28 IST Oil prices

Brent Crude Rises Above $75 A Barrel After US Launches 'Powerful Strikes' Against Iran Published By, Last Updated: July 08, 2026, 07:28 IST Oil prices climbed once again after the United States launched a fresh wave of strikes against Iran following attacks on ships in the vital Strait of Hormuz Oil prices surge again after US strikes on Iran | Image for representation Oil prices climbed once again after the United States launched a fresh wave of strikes against Iran on Tuesday following attacks on shipping in the vital Strait of Hormuz. The US military unleashed “powerful strikes", hitting 80 targets across Iran.

While Brent crude rose 2.8 per cent to top USD 76 a barrel, West Texas Intermediate increased above USD 72 a barrel, according to CNBC. In a post on ‘X’, the US Central Command (CENTCOM) said that the forces concluded a “new round of offensive strikes against Iran“ against what it described as an “immediate response“ to Iran’s attacks on commercial vessels crossing the strait. “U.S. Central Command (CENTCOM) forces completed a new round of offensive strikes against Iran, July 7, hitting over 80 targets with precision munitions as an immediate response to Iran’s latest attacks on commercial vessels transiting the Strait of Hormuz", the post read.

Explosions were heard on an island close to the strait, Iranian media reported, adding the sound of seven explosions was also heard in the southern city of Sirik. Separately, Iranian media reported explosions were also heard on Qeshm Island –– near the Strait of Hormuz –– and in Bandar Abbas port in southern Iran. According to the US CENTCOM: “U.S. forces struck Iranian air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities, and more than 60 Islamic Revolutionary Guard Corps small boats in and near the strait to degrade Iran’s ability to continue attacking international commerce flowing through the international trade corridor".

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