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Oil jumps more than 3% after US, Iran launch strikes in Mideast

By Thomson Reuters Jul 12, 2026 | 5:12 PM

SINGAPORE, July 13 (Reuters) – Oil prices ​jumped ‌on Monday as Iran expanded strikes ‌on ​Gulf ⁠states following ⁠attacks by the United States, threatening ​energy shipments ⁠via ⁠the Strait ​of Hormuz.

Brent ​crude futures climbed $2.67, ‌or 3.51%, to $78.68 by 2204 ⁠GMT, while U.S. West Texas ⁠Intermediate ‌crude ⁠was at $73.89 ​a ‌barrel, up $2.48, ​or ⁠3.47%.

(Reporting by Florence Tan; Editing by Edmund ​Klamann)