Explainer: Why Strait of Hormuz tensions are pushing oil prices higher | TheBriefWire
Explainer: Why Strait of Hormuz tensions are pushing oil prices higher
Published 14 July 2026 · finance
Oil prices climbed to a four-week high of $87 a barrel on Tuesday, reviving concerns over market volatility linked to tensions in the Strait of
Oil prices climbed to a four-week high of $87 a barrel on Tuesday, reviving concerns over market volatility linked to tensions in the Strait of Hormuz. The waterway, which handles roughly 20% of global oil and liquefied natural gas supplies, has seen repeated price swings since fighting between Iran, the US and Israel began earlier this year, with crude briefly surging above $120 a barrel.
A June memorandum between Washington and Tehran had eased prices to around $80, but renewed fighting now threatens fresh disruptions to food, fertiliser and medicine supply chains worldwide.
Al Jazeera’s Um-e-Kulsoom Shariff reports. Find us on Check our website Check out our Instagram page Download AJE Mobile App
Published: July 14, 2026 • 9:54 PM IST · Updated: July 14, 2026 • 10:41 PM ISTBy TheBriefWire Editorial Team
Key points· Video
Oil prices climbed to a four-week high of $87 a barrel on Tuesday, reviving concerns over market volatility linked to tensions in the Strait of Hormuz.
The waterway, which handles roughly 20% of global oil and liquefied natural gas supplies, has seen repeated price swings since fighting between Iran, the US and Israel began earlier this year, with crude briefly surging above $120 a barrel.
A June memorandum between Washington and Tehran had eased prices to around $80, but renewed fighting now threatens fresh disruptions to food, fertiliser and medicine supply chains worldwide.
Al Jazeera’s Um-e-Kulsoom Shariff reports.
Find us on Check our website Check out our Instagram page Download AJE Mobile App
The BriefWire