Oil prices climb after attack in Strait of Hormuz halts evacuation plan
Key takeaways
- Brent crude rises after cargo ship comes under attack in key waterway.
- Brent crude, the international benchmark, rose as much as 4 percent on Thursday after the International Maritime Organization paused its evacuation plan amid renewed violence in the strait.
- Brent futures for August delivery stood at $74.89 per barrel as of 02:00 GMT, after earlier dropping below $72.48, their closing price the day before the United States and Israel launched their war on Iran.
Why this matters: an international story with cross-border implications worth tracking.
Brent crude rises after cargo ship comes under attack in key waterway.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Tankers and cargo vessels in the Gulf of Oman, along shipping routes linking the Strait of Hormuz and the Arabian Sea, on June 16, 2026 [AP]By John Power Published On 26 Jun 202626 Jun 2026Oil prices have jumped after the United Nations maritime agency called off its planned evacuation of ships stranded around the Strait of Hormuz following an attack on a cargo vessel in the waterway.
Brent crude, the international benchmark, rose as much as 4 percent on Thursday after the International Maritime Organization paused its evacuation plan amid renewed violence in the strait.