Oil hits one-month high on supply disruption concerns

Oil tanks

Oil prices rose today, July 14, driven by the continued military confrontations between the US and Iran. Gains, however, eased after the US administration abandoned its plan to impose fees on passage through the Strait of Hormuz.

 

The US blockade of Iranian ports is scheduled to take effect at 11:00 pm Makkah time, keeping concerns about energy supplies through the Strait of Hormuz alive.

 

US President Donald Trump threatened yesterday to launch strikes against Iran on Monday and Tuesday, as Central Command forces continued to bomb Iranian sites since last night, while Iran targeted two tankers in the Strait of Hormuz and launched attacks on US sites in the region.

 

On the economic front, inflation in America slowed more than expected during June, but markets remain concerned about the possibility of the Federal Reserve raising interest rates, which could negatively affect the pace of economic growth and global demand for oil.

 

Brent, WTI Futures Prices

Crude

Price ($/bbl)

Change ($)

Change

Brent (September delivery)

84.73

1.43

1.72%

WTI (August delivery)

79.34

1.20

1.54%

*Settlement on July 14.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Commodity Price

 
Brent Crude Oil
101.00
(0.38) (0.38%)
Nymex
89.08
(1.16) (1.29%)

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request