Updated · The Australian Financial Review · Jul 15
Brent Crude Nears $100 After 17% July Surge as Trump Reimposes Hormuz Blockade
Updated
Updated · The Australian Financial Review · Jul 15
Brent Crude Nears $100 After 17% July Surge as Trump Reimposes Hormuz Blockade
3 articles · Updated · The Australian Financial Review · Jul 15
Summary
Brent front-month futures are approaching triple-digit prices after climbing nearly 17% in July, putting oil days away from another sharp run higher.
Trump's renewed blockade of the Strait of Hormuz and resumed strikes across the Middle East have tightened an already strained market despite an interim deal signed less than a month ago to end the war.
Analysts warn the disruption is piling pressure on depleted global energy supplies that could reach critical levels within weeks if the blockade and strikes persist.
As oil prices skyrocket, could the global rush to green energy be creating new, violent conflicts on the ground?
The US-led operation failed to topple Iran's regime. What happens if this high-stakes energy blockade also fails?
A single waterway is threatening a global recession. Is our modern economy too fragile to withstand regional conflicts?
Brent Crude Approaches $100 as Strait of Hormuz Blockade Halves Shipping and Triggers Global Economic Turmoil
Overview
In July 2026, the Strait of Hormuz became the center of a major geopolitical and economic crisis as renewed conflict between the United States and Iran led to a sharp escalation in military actions. U.S. forces launched repeated strikes along Iran’s coast to weaken Tehran’s ability to target commercial vessels, but these efforts failed to quickly resolve the situation. As a result, Brent crude oil prices surged and global shipping through the Strait dropped dramatically. The ongoing standoff dashed hopes for a swift reopening, highlighting the severe impact of the conflict on energy markets and global economic stability.