Global crude oil prices surged more than 4% at market open after the US launched a new round of attacks on Iran. Meanwhile, Iran announced the closure of the Strait of Hormuz. The US military confirmed that shipping lanes remain operational as usual.
On 13 July 2026 GMT+7, global crude oil prices rose sharply following escalating conflict between the US and Iran, raising uncertainty about navigation through the Strait of Hormuz, one of the world's most critical oil shipping routes.
Brent crude for September delivery increased 3.88% to $78.96 per barrel, approximately 2,880 baht per barrel, while US West Texas Intermediate crude for August delivery rose 4.1% to $74.33 per barrel, roughly 2,710 baht per barrel.
The price rise followed a US Central Command announcement that the US military conducted another round of strikes on targets in Iran on Sunday, continuing from over 140 strikes on Saturday, in retaliation for attacks by the Islamic Revolutionary Guard Corps on container ships transiting the Strait of Hormuz.
Iran's official news agency reported that Iran retaliated by attacking US bases in Jordan, Kuwait, Bahrain, and Oman, and declared the closure of the Strait of Hormuz until further notice.
However, the US military affirmed that the Strait of Hormuz remains open to all vessels navigating legally, stating US forces remain deployed to ensure freedom of navigation, and emphasized that Iran does not control the strait.