WTI Crude Surges 10% on US-Iran Strikes: What Comes Next
WTI crude oil closed Thursday at $79.75, up 10.1% from $72.45 just five sessions earlier, its sharpest weekly gain since the pandemic shock of 2020, per TradingEconomics commodity data. The catalyst was straightforward: US military strikes on Iranian nuclear facilities on July 14 put the Strait of Hormuz directly in the conversation about global supply, and oil traders repriced accordingly. What is less clear is whether $79 is a new floor or the ceiling of a fear-driven spike. Key Takeaways WTI crude surged from $72.45 to $79.75 (+10.1%) in five sessions following US strikes on Iranian nuclear facilities on July 14, 2026, per TradingEconomics. The Strait of Hormuz carries roughly 20% of glob…
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