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Concise summary of key highlights

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Crude oil prices surge as US-Iran conflict escalates, raising global supply disruption fears.

Key points

• Geopolitical tensions rise

US military strikes on Iran and retaliatory actions heighten concerns over crude shipments through the Strait of Hormuz.

• Oil futures gain momentum

Crude oil futures extended gains for a third consecutive session, with prices rising on MCX and global exchanges.

• Strait of Hormuz risk

The Strait of Hormuz, a critical oil trade route, faces potential disruption due to escalating military actions.

• US naval blockade reinstated

The US reimposed a naval blockade on vessels travelling to and from Iranian ports, further tightening supply risks.

• Regional conflict escalation

Iran retaliated with strikes on US-linked military installations, increasing fears of a broader regional conflict.

Key statistics

Rs 105 to Rs 7,689 per barrel

Crude oil futures increase on MCX

USD 85.78 per barrel

Brent oil futures price

USD 80.03 per barrel

WTI oil futures price

Rs 7,198 per barrel (nearly 6%)

Crude oil futures surge in India

Seven-hour operation

Duration of US military strikes

Processed with AI. Reviewed by DH Digital Team.

Published 15 July 2026, 07:13 IST