Brent Crude Holds Above $84 Amid US-Iran Strait of Hormuz Tensions

Trading Economics, Times of India, Associated Press · Jul 16, 2026 00:00

Brent crude oil prices fluctuated around $84.55-$85.48 per barrel on July 16, 2026, remaining elevated due to intensified US military strikes against Iran aimed at safeguarding shipping through the Strait of Hormuz. The escalating conflict has pushed oil prices to near one-month highs, despite some daily dips.