Energy up as Oil Rises by 9.4% on Strait of Hormuz Fight

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Energy up as Oil Rises by 9.4% on Strait of Hormuz Fight

Dow Jones07-14

Shares of energy companies rallied as oil futures spiked due to an escalating standoff between the U.S. and Iran over the Strait of Hormuz.

President Trump said he was reimposing the U.S. blockade on Iranian shipping. Tanker traffic slowed to a crawl, and U.S. oil futures, which had returned to prewar levels after the peace deal in June, spiked again. In New York, oil rose $6.73 per barrel, or 9.4%, to $78.14 a barrel.

The United Arab Emirates boosted crude output by 80% in June from the previous month after quitting the Organization of the Petroleum Exporting Countries to escape production quotas and bring oil to the market on its own terms.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 13, 2026 17:12 ET (21:12 GMT)

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