Rebounding from yesterday’s losses, crude oil prices have soared on Friday after Iran’s military claimed conducting strikes on U.S. military assets in Bahrain and Kuwait. In addition, Iran fired at two U.S.-backed vessels transiting through the Strait of Hormuz.
WTI Crude Oil for September month delivery was last seen trading up by $1.48 (or 1.77%) at $85.07 per barrel.
Fading expectations of a diplomatic resolution to the U.S.-Iran crisis brought back the risk premium to crude oil prices.
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Market Analysis
Crude Oil Surges As U.S.-Iran Conflict Keeps Strait Of Hormuz Crisis Alive
2026-07-31 18:40:10
