Brent Crude Oil Jumps Over 4% as Iran Conflict Threatens Supply

Published by

Nidhi Kolhapur

July 13, 2026

Two large golden Bitcoin coins flanking a textured flag of Iran over a background of digital binary code and market charts.

Brent crude oil rose more than 4% to $78.68 a barrel, while West Texas Intermediate climbed to $73.89, after U.S. strikes on Iran and renewed threats to shipping through the Strait of Hormuz. The gains reflect concerns that escalating tensions could disrupt global oil supplies through one of the world’s busiest energy trade routes. Markets will closely monitor developments in the region and any impact on oil exports and shipping.

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