Global crude oil prices rose by more than 3 percent as tensions between the United States and Iran intensified, raising concerns over energy supply disruptions. Brent crude climbed by 2.67 dollars, or 3.51 percent, to reach 78.68 dollars per barrel, according to market data released on July 13, 2026.

Analysts attributed the price increase primarily to fears of transport disruptions through the Strait of Hormuz, a key maritime route for global energy shipments. Data from the U.S. Energy Information Administration indicated that before the conflict began, nearly one-fifth of the world’s petroleum supply passed through this strait.

Market observers warned that if the conflict escalates further, oil transportation through the Strait of Hormuz could be severely affected, potentially triggering greater instability in the global energy market.