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Commodities: Oil Surges As U.S. Reinstates Blockade On Iran

Oil prices surged yesterday, with ICE Brent settling 9.6% higher on the day - back above $83/bbl.

BC Post Staff Source: Seeking Alpha Jul 13, 2026 Updated Jul 13, 2026 1 min read 6 views

British Columbia Source: Seeking Alpha

Commodities: Oil Surges As U.S. Reinstates Blockade On Iran

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Oil prices surged yesterday, with ICE Brent settling 9.6% higher on the day - back above $83/bbl.

Summary Oil prices surged yesterday, with ICE Brent settling 9.6% higher on the day - back above $83/bbl. Developments in the Middle East have also seen European natural gas prices surging. Gold fell sharply on Monday, with silver also under pressure, as renewed tensions in the Middle East drove oil prices higher.

In base metals, copper found support from tightening LME warehouse dynamics. Oleksii Liskonih/iStock via Getty Images By Warren Patterson , Head of Commodities Strategy and Ewa Manthey , Commodities Strategist Energy - Trump’s Hormuz toll adds another layer of uncertainty Oil prices surged yesterday, with ICE Brent settling 9.6% higher on the day - back above $83/bbl. This

Published: Jul 13, 2026
Updated: Jul 13, 2026
Source: Seeking Alpha
Category: Business
Read time: 1 min

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SectionBusiness

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SourceSeeking Alpha

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PublishedJul 13, 2026

UpdatedJul 13, 2026

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