{"id":826746,"date":"2026-05-28T01:37:13","date_gmt":"2026-05-28T01:37:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/826746\/"},"modified":"2026-05-28T01:37:13","modified_gmt":"2026-05-28T01:37:13","slug":"oil-prices-u-s-strikes-in-iran-revive-strait-of-hormuz-turmoil-fears","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/826746\/","title":{"rendered":"Oil prices: U.S. strikes in Iran revive Strait of Hormuz turmoil fears"},"content":{"rendered":"

In an aerial view, a Valero refinery is seen on May 5, 2026 in Corpus Christi, Texas.<\/p>\n

Brandon Bell | Getty Images<\/p>\n

Oil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.<\/p>\n

Brent<\/a>\u00a0crude\u00a0futures, the international benchmark, gained over 1.81% to $96 per barrel, while the West Texas Intermediate futures<\/a> gained 1.86% to $90.33 per barrel. <\/p>\n

American forces launched fresh strikes in Iran against a military site believed to threaten U.S. troops and commercial shipping through the Strait of Hormuz, a U.S. official told MS NOW. They also reportedly intercepted and downed several Iranian drones.\u00a0<\/p>\n

In a note published late Wednesday, Citi said oil markets were finding firmer footing as investors increasingly priced out worst-case supply disruption scenarios amid signs Washington and Tehran were moving closer toward an agreement.\u00a0<\/p>\n

Still, the bank cautioned that uncertainty over the timing of any deal was keeping central banks on alert, with policymakers weighing tighter monetary settings in response to energy-driven inflation risks.<\/p>\n

The bank said the prolonged run-up in crude prices was beginning to spill into broader inflation pressures, particularly through “second round effects,” prompting some central banks to lean more hawkish.\u00a0<\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In an aerial view, a Valero refinery is seen on May 5, 2026 in Corpus Christi, Texas. Brandon…\n","protected":false},"author":3,"featured_media":826747,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5],"tags":[329646,259682,8000,81,152483,83,50,6769,67,103],"class_list":["post-826746","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","tag-cl26n","tag-lco26n","tag-asia-economy","tag-business-news","tag-ice-brent-crude-oct25","tag-iran","tag-news","tag-prices","tag-united-states","tag-world"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/826746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=826746"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/826746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/826747"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=826746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=826746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=826746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}