{"id":15764,"date":"2026-07-20T12:49:44","date_gmt":"2026-07-20T09:49:44","guid":{"rendered":"https:\/\/harici.com.tr\/en\/?p=15764"},"modified":"2026-07-20T12:49:44","modified_gmt":"2026-07-20T09:49:44","slug":"oil-passes-90-as-tanker-attacks-halt-hormuz-shipping","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/oil-passes-90-as-tanker-attacks-halt-hormuz-shipping\/","title":{"rendered":"Oil passes $90 as tanker attacks halt Hormuz shipping"},"content":{"rendered":"

Oil prices have risen above $90 a barrel for the first time in more than a month after the United States launched a new wave of strikes against Iran and the American military death toll from the conflict increased.<\/p>\n

Brent crude, the international benchmark, rose by 2.5% to $90.30 a barrel in early Asian trading on Monday. Prices have advanced by more than 23% this month, putting oil on track for its largest monthly increase since March, when hostilities were at their peak.<\/p>\n

Oil last traded above $90 a barrel on 11 June.<\/p>\n

The surge in prices follows an escalation in retaliatory strikes between the US and Iran. Washington confirmed over the weekend that it had suffered further military casualties, whilst Tehran targeted critical energy and water infrastructure in the region. At least three US service members have been killed in attacks since Friday, with officials stating that remains recovered in Jordan may belong to a fourth soldier.<\/p>\n

In an assessment published<\/a><\/span> on Monday, commodity analysts at ANZ noted that tanker traffic through the Strait of Hormuz had “collapsed” due to heightened security anxieties. The analysts added that rising production in the US has been insufficient to offset shipping disruptions in the Gulf, whilst Washington’s blockade of Iranian ports has further disrupted global energy supplies.<\/p>\n

The US has launched strikes against Iran for a ninth consecutive night. Washington stated that the operations targeted various military facilities, coastal surveillance stations, and communications networks in an effort to degrade Tehran’s capability to attack commercial vessels in the Strait of Hormuz.<\/p>\n

Iran’s Islamic Revolutionary Guard Corps (IRGC) reported late on Sunday that two oil tankers attempting to navigate the “unsafe” southern route of the strait had been “blown up and halted.” In a statement published on social media, the Revolutionary Guards emphasised that the US had “provoked” the attack.<\/p>\n

“This is our territory,” the statement said, declaring that there was no “legal” basis for the intervention of the US military, which had travelled thousands of kilometres. The IRGC added that no oil, natural gas, or fertiliser would be permitted to pass through the strait as long as hostile US activities in the region continued.<\/p>\n

In a separate statement, the Revolutionary Guards announced that they had targeted US military C-17 transport aircraft and P-8 reconnaissance aircraft at Aqaba Airport, acting on “intelligence” provided by Jordanian citizens.<\/p>\n

British maritime authorities reported on Monday that a fire had broken out on board a vessel north of Oman. The United Kingdom Maritime Trade Operations (UKMTO) stated that “the cause of the fire cannot be confirmed at this stage,” advising vessels in the area to navigate with caution.<\/p>\n

Markets outside of the oil sector remained relatively stable. The dollar was flat against a basket of currencies of its major trading partners, whilst the yield on the 10-year US Treasury note was unchanged at 4.55%. S&P 500 and Stoxx Europe 600 futures also traded flat, while Asian equity markets presented a mixed picture.<\/p>\n

US officials maintained that the primary objective of the current military strikes is to secure the safe passage of energy shipments through the Strait of Hormuz.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices have risen above $90 a barrel for the first time in more than a month after the United States launched a new wave of strikes against Iran and the American military death toll from the conflict increased. Brent crude, the international benchmark, rose by 2.5% to $90.30 a barrel in early Asian trading […]<\/p>\n","protected":false},"author":1,"featured_media":15765,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[1],"tags":[20397,20398,9476,1913,7308,20396,10762,288,14512,1635,7699,16839,5945,10763,20395,18372,1192,20399],"class_list":["post-15764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middleeast","tag-anz","tag-aqaba-airport","tag-brent-crude","tag-casualties","tag-crude-oil","tag-energy-disruption","tag-global-energy-supply","tag-iran","tag-islamic-revolutionary-guard-corps","tag-jordan","tag-maritime-security","tag-military-strikes","tag-oil-prices","tag-strait-of-hormuz","tag-tanker-shipping","tag-ukmto","tag-united-states","tag-us-treasury-yields"],"yoast_head":"\nOil passes $90 as tanker attacks halt Hormuz shipping - 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