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July 7, 2026
Oil Prices Surge Following Iranian Attack on Commercial Ships
- Oil prices rose 1.5% for both Brent and West Texas Intermediate futures after the attack.
- Iran reportedly fired missiles at commercial vessels, causing significant damage but no casualties.
- The incident underscores the fragility of the recent U.S.-Iran peace talks, with no progress toward a lasting agreement.
4 Sources
- Iran resumes attacks in Strait of Hormuz after lull, U.S. officials sayJul 7, 2026 at 1:01 AM · Axios
- New Strikes on Ships in Strait of Hormuz Test U.S.-Iran Cease-FireJul 7, 2026 at 7:56 AM · NYT
- Oil prices rise after report of Iranian attack on commercial ships in Strait of HormuzJul 7, 2026 at 8:06 AM · CNBC
- Ship hit in Hormuz as millions march for ayatollah; Iran says no talks unless Trump halts threatsJul 7, 2026 at 9:44 AM · Reuters