---
title: "Oil surges amid escalation: US strikes on Iran and threat to the Strait of Hormuz"
description: "Oil prices surged by 1.2% following new US strikes on Iran. Donald Trump announced the end of the ceasefire, and tanker traffic through the Strait of Hormuz has effectively halted. Markets fear a supply shortage. 🛢️📉🚫"
date: 2026-07-09T09:14:00.000Z
lang: en
url: https://xab.info/en/posts/oil-surges-amid-escalation-us-strikes-on-iran-and-threat-to-the-strait-of-hormuz
tags: []
publisher: "XAB.info"
---

# Oil surges amid escalation: US strikes on Iran and threat to the Strait of Hormuz

![Silhouettes of oil rigs at sunset: oil price surge due to US-Iran tensions](https://xab.info/media/2026/07/09/neft-vzletela-na-fone-udarov-ssha-po-iranu-i-ugroza-ormuzskomu-prolivu/neft-vzletela-na-fone-udarov-ssha-po-iranu-i-ugroza-ormuzskomu-prolivu-1.webp)

Energy markets reacted with a sharp price spike to news of the resumption of the active phase of the conflict in the Persian Gulf. On Thursday, July 9, "black gold" quotes rose by more than 1%, reflecting investor concerns about the stability of global supplies.

### Rise in Brent and WTI quotes

Trading showed a confident rise in key benchmark grades. Brent crude futures rose by 86 cents, representing a daily gain of 1.1%. The cost of one barrel reached the mark of $78.88. The American grade West Texas Intermediate (WTI) demonstrated similar dynamics, rising by 85 cents, or 1.2%, to $74.37 per barrel.

Analysts at ING, in a note to clients, directly linked the morning price increase to new US strikes on Iran. Experts note that the latest escalation of the conflict "shattered trust" in the fragile ceasefire that previously supported calm in the market.

### Threat to the Strait of Hormuz

The key factor in the panic was the situation around the Strait of Hormuz. Before the start of hostilities, one-fifth of global oil and liquefied natural gas supplies passed through this narrow waterway. Control over the strait has always been Tehran's main lever of influence in the conflict, which began with US and Israeli airstrikes on Iran back on February 28.

The situation on the waterway has sharply deteriorated. Analyst Tony Sycamore of IG believes that the movement of oil tankers through the strait has effectively ceased in recent weeks. Shipowners, fearing for safety, will likely take a more cautious position, which could lead to a supply shortage in the future.

### US position and the end of negotiations

The political backdrop also does not favor a price drop. During the NATO summit on July 8, US President Donald Trump officially announced the end of the ceasefire with Iran. The reason was an Iranian attack on merchant ships that took place on July 7. Trump stated that Washington does not intend to negotiate with Tehran under current conditions.

However, according to the American leader, following recent strikes, Iran contacted the US and offered to conclude an agreement. Nevertheless, Trump expressed doubts about the sincerity of Tehran's intentions. On the night of July 9, the US launched retaliatory strikes on Iranian territory, attacking nearly a hundred targets, which finally buried hopes for a quick settlement and the resumption of shipping.