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Back to stories
2 sourcesJul 17, 2026

Oil rises on intensifying US-Iran hostilities, threat of Red Sea closure

Reuters - Oil prices rose on Friday after the U.S. and Iran stepped up ​attacks across the Gulf, with their broken truce limiting oil flows out of the ‌Strait of Hormuz and with Tehran asking the Houthi political and military organisation to stand ready to shut the Red Sea export route. Brent crude futures rose 70 cents,...

Ada Derana Biz•Jul 17, 2026
By Biz Editor
Read full article

What this story is about

People
  • Donald Trump2
  • Hormuz2
  • Hormuz Reuters - Oil
  • Giovanni Staunovo
  • Bandar Abbas
  • Tim Waterer
  • Simon Wong
  • Houthis
Organisations
  • Reuters - Oil2
  • GMT2
  • Joint Maritime Information Center
  • UAE Ministry of Defence
  • U.S. Central Command
  • Gelber & Associates
  • United Nations
  • Gabelli Funds
Places
  • United States4
  • Iran4
  • Strait of Hormuz3
  • Tehran3
  • Red Sea2
  • Gulf2
  • United Arab Emirates
  • Saudi Arabia
Keywords
  • month2
  • high2
  • intensifying
  • hostilities
  • coastline
  • blockade
  • attacks
  • closure
  • renewed
  • strikes

Names and places drawn from every article in this story. The number shows how many of them mentioned it.

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Also reported by

2 newsrooms have reported this story

  • Oil prices turn lower as traders weigh impact of renewed US strikes on IranAda Derana Biz·Jul 16, 2026
  • Oil climbs to one-month high as US, Iran step up attacks in Strait of HormuzAda Derana Biz·Jul 14, 2026
  • Oil up 9% to one-month high as US  says it will blockade entire Iranian coastline, all vesselsAda Derana·Jul 14, 2026
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