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CNBC
Brent breaks past $90 as U.S.-Iran conflict rages on
Oil prices rose significantly on the backdrop of escalating military actions between the U.S. and Iran, especially concerning operations in the Strait of Hormuz. Brent crude has reached over $90 per barrel, with U.S. military engagements increasing fears of disruptions in this critical oil transit route. The implications on global oil supply and prices are concerning.
MonitorConfidence: HighShort term horizonGeopolitical risk: High
Published 20 Jul 2026, 01:55 UTC1 min read
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Summary
TL;DR
- Brent crude rises 2.77% to surpass $90 per barrel.
- U.S. military confirms casualties amidst ongoing strikes against Iran.
- Tensions increase over security in the Strait of Hormuz.
- Iranian military capabilities targeted by U.S. forces.
- Concerns grow over global oil supply depletion as Gulf exports decrease.
Interesting facts
- The U.S. has engaged in military operations for over a week.
- Strait of Hormuz is one of the world's most crucial oil transit routes.
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