---
title: "Oil Soars to $85: How the Escalation of the US-Iran Conflict Hits Global Markets"
description: "Brent oil has surged above $85 amid the escalation of the conflict between the US and Iran. 🛢️⚔️ Investors fear a blockade of the Strait of Hormuz and the Red Sea, which threatens global supplies. Donald Trump has imposed a naval blockade on Iranian ports, while Tehran prepares retaliatory strikes. 📉🚢"
date: 2026-07-17T03:04:00.000Z
lang: en
url: https://xab.info/en/posts/oil-soars-to-85-how-the-escalation-of-the-us-iran-conflict-hits-global-markets
tags: [oil-prices, us-iran-conflict, donald-trump, brent, wti]
publisher: "XAB.info"
---

# Oil Soars to $85: How the Escalation of the US-Iran Conflict Hits Global Markets

![Silhouettes of oil rigs at sunset: oil price surge due to US-Iran conflict](https://xab.info/media/2026/07/17/neft-vzletela-do-85-dollarov-kak-escalatsiya-konflikta-ssha-i-irana-bet-po-mirovym-rynkam/neft-vzletela-do-85-dollarov-kak-escalatsiya-konflikta-ssha-i-irana-bet-po-mirovym-rynkam-1.webp)

The global energy market ended the week with a sharp rise in prices. Investors reacted to the heightened tension between the United States and Iran, fearing that military actions could block key maritime arteries through which oil is transported.

### Market Reacts to Strikes

Friday's trading showed a confident rise in prices. Brent crude rose by more than a dollar, reaching the mark of $85.28 per barrel. The American benchmark WTI also gained, settling at $79.98. By the end of the week, both indicators rose by 2%.

The immediate trigger for the surge was new US airstrikes on targets in southern Iran. In response, Tehran launched retaliatory missile and drone strikes on US facilities in the region. This dynamic forced traders to reassess supply risks.

### Threat to Shipping and the Red Sea

The situation is exacerbated by statements from Iranian authorities. Tehran has instructed the Houthis to prepare for a possible blockade of shipping in the Red Sea if American attacks on energy infrastructure continue.

The market fears that hostilities will disrupt oil exports from the Middle East. Analysts are paying special attention to two bottlenecks:

- The Strait of Hormuz — the key outlet from the Persian Gulf to the ocean.

- The Red Sea — a route through which a significant portion of global energy supplies pass.

### Forecasts and Consequences for Refining

Experts warn: in the event of further escalation, prices could rise even further. In particular, American WTI could test the mid-$80s per barrel if geopolitical risks do not decrease in the near future.

Paradoxically, the conflict in the Strait of Hormuz has already sent a positive signal to one of the industries. Due to difficulties in supplying diesel fuel and gasoline, the profitability of US oil refineries has reached record levels.

It was reported yesterday that oil continues to rise in price amid the shelling of merchant ships. On July 15, prices rose again after US President Donald Trump reimposed a naval blockade on all Iranian ports, and Tehran struck US infrastructure in the region.