^

Business

Global oil prices jump above 3.5% on renewed US-Iran fighting

Agence France-Presse
July 13, 2026 | 8:01am
Global oil prices jump above 3.5% on renewed US-Iran fighting
This frame grab taken from AFPTV video footage on July 12, 2026 shows cargo ships anchoring near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan.
AFPTV / AFP

TOKYO, Japan — Oil prices opened sharply higher on Monday after the United States launched a wave of attacks on Iran and as Tehran announced it would close the Strait of Hormuz.

A barrel of international benchmark Brent crude for September delivery rose 3.75% to $78.86 at around 2210 GMT on Sunday.

US benchmark West Texas Intermediate rose 3.65 percent to $74.02 per barrel for August delivery.

This is a developing story.

OIL PRICES

US-IRAN CONFLICT
  • Latest
  • Trending
Trending
Latest
Trending
abtest
abtest

No longer the same NAIA

By Mary Ann LL. Reyes | 1 day ago
In just a little less than two years since the San Miguel Corp. led consortium took over the maintenance and operations of the Ninoy Aquino International Airport, we can safely say that our country’s premier...
Business
fbtw
Fuel prices may climb further past P100 next week

Fuel prices may climb further past P100 next week

By Renalyn Ramirez | 2 days ago
Another round of oil price hike next week.
Business
fbtw

DOE failure

By Boo Chanco | 1 hour ago
Pity Energy Secretary Sharon Garin. She is from Iloilo and like the rest of Visayas, Iloilo has been suffering from power failures reminiscent of the great blackouts of the Cory era. And Secretary Garin seems unable...
Business
fbtw

Don’t bet against the house

By Wilson Sy | 1 hour ago
Last month, US support for the Japanese yen was described as “a signal of friendship.
Business
fbtw

The futility of ‘if only’

By Francis J. Kong | 1 day ago
Two simple words in English, “if only,” might seem harmless at first, but they can quietly keep us from growing and moving forward.
Business
fbtw
Latest
abtest
Philippines to import higher percentage broken rice amid global uptick

Philippines to import higher percentage broken rice amid global uptick

By Adrian Kenneth Halili | 1 hour ago
The Philippines may face stiffer competition for broken rice imports, as higher demand from China and other importers are...
Business
fbtw

More economic pain coming

By Marianne Go | 1 hour ago
It has already been six months and counting, and worse — the US-Iran conflict appears to be escalating.
Business
fbtw

US firm expands hunt for native hydrogen in Philippines

By Brix Lelis | 1 hour ago
US-based Koloma Inc. wants to expand its search for native hydrogen resources beyond Zambales and Pangasinan, this time proposing to explore offshore Palawan.
Business
fbtw
Banks’ cooperation sought in review of dirty money rules

Banks’ cooperation sought in review of dirty money rules

By Keisha Ta-Asan | 1 day ago
The Bangko Sentral ng Pilipinas has called on banks and other supervised financial institutions to support preparations...
Business
fbtw
ASEAN oil stockpile plan gains traction

ASEAN oil stockpile plan gains traction

By Adrian Kenneth Halili | 1 day ago
A regional study on the joint stockpiling of oil within the Association of Southeast Asian Nations could be completed...
Business
fbtw
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with