Brent Fluctuates as US Intensifies Strikes on Iran

2026-07-15 23:33 By Jam Kaimo Samonte 1 min. read

Brent fluctuated around $85 per barrel on Thursday, but stayed close to one-month highs as the US stepped up its military campaign against Iran in an effort to safeguard shipping through the Strait of Hormuz.

US forces carried out fresh airstrikes on Wednesday, targeting Iranian missile storage facilities and launch sites near the strategic waterway.

Reports also indicated that President Donald Trump is leaning toward broadening US military operations and has discussed the possible seizure of Kharg Island, Iran’s primary oil export terminal.

The escalating conflict lifted oil prices to a one-month high and revived concerns over potential supply disruptions in the Middle East, reversing roughly a third of the second-quarter decline that followed the interim peace agreement, which had improved the supply outlook.

Meanwhile, continued Ukrainian attacks on Russian fuel production facilities and oil tankers added to worries over tightening global supplies.



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