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macroJul 9, 2026, 4:49 AM

Oil Jumps as US Strikes Iran Again, Hormuz Risk Returns

WTI crude surged above $75 as renewed US military action against Iran brings the Strait of Hormuz back into focus, repricing geopolitical risk premiums.

WTI

Oil prices escalated after the United States launched new strikes against Iran, reigniting fears over the Strait of Hormuz. According to market commentary, WTI crude's breakthrough above $75 was not a fleeting war premium but a structural repricing of the risk that the vital chokepoint is once again central to supply concerns.

The move reflects a shift in market sentiment, with traders now factoring in a higher probability of disruption to tanker traffic through the strait, through which about a fifth of global oil passes. No further details on the scale or timing of the strikes were provided.

Source: FXStreet Forex News