U.S. President Donald Trump speaks during a media conference at the end of the NATO summit as Secretary of State Marco Rubio, right, and Defense Secretary Pete Hegseth listen in The Hague, Netherlands, June 25, 2025.
| Photo Credit:
AP
Oil prices rose on Thursday (July 9, 2026) after the U.S. launched fresh strikes against Iran, denting hopes for an end to the Iran war and for the full reopening of the Strait of Hormuz, a chokepoint for one-fifth of pre-war global oil supplies.
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Brent crude futures rose 78 cents, or 1% to $78.8 a barrel by 0054 GMT. U.S. West Texas Intermediate crude futures were up 74 cents, or 1.01%, at $74.26 a barrel.
Both crude benchmarks, WTI and Brent, rose more than a dollar in post-settlement trade on Wednesday after the U.S. military began launching fresh strikes on Iran.
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Meanwhile, the U.S. military said it was launching fresh strikes on Iran aimed at keeping the critical Strait of Hormuz open to traffic, hours after President Donald Trump declared that an interim agreement to end the war was “over”.
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