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Strait of Hormuz becomes key battleground again, oil prices rise

Politiko 2026-07-14 09:20:09

Strait of Hormuz becomes key battleground again, oil prices rise

We have seen a significant increase in prices compared to the same time yesterday, all as a result of developments in the Middle East.

The news that Donald Trump wants the United States to become the "guarantor" of the Strait of Hormuz and impose a 20% tariff on any cargo passing through it, contributed to the increase in the price of Brent oil, writes Sky News. 

Iranian attacks on tankers overnight in the strait have only strengthened the belief that this vital route for transporting oil and gas is, at least for the time being, out of order.

About a fifth of global oil and gas supplies normally pass through the Strait of Hormuz, including Iranian exports, which Donald Trump has said he will block again.

A barrel of Brent crude oil for future delivery is currently trading near the $85 level.

At this level, the price is about $13 higher than before the outbreak of the conflict, but still remains significantly below the peak of the war, when it exceeded $120 per barrel.

However, high energy prices pose a serious risk of rising inflation. This has increased fears that central banks may be forced to raise interest rates again to contain the economic fallout, a development that is already being reflected in financial markets.

Investors prefer lower borrowing costs and not measures that inhibit economic growth.

In this conflict, the Strait of Hormuz has become the key flashpoint, of crucial importance to all parties.

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