Home Industries Energy Oil futures surge as Houthi threat to Saudi port endangers crucial Red Sea workaround Updated July 21, 2026, 3:05 p.m. ET Share (5 min) Fighters loyal to the Aden-based internationally recognised Yemeni government gathering along
0744 GMT – Oil prices rise, with Brent crude trading just shy of $86 a barrel after the U.S. reinstated its naval blockade on Iran. “Although Trump withdrew a proposal to impose transit fees on ships using
Oil markets and Middle East producers appear to be aligning around a new reality: The Strait of Hormuz is no longer expected to return to a prewar norm. Renewed fighting over the weekend and President
1509 ET – Oil futures end the week higher on a renewal of military strikes by the U.S. and Iran following attacks on tankers in the Strait of Hormuz. Gains are tempered by market expectations that
