Oil prices hit July peak
The hopes of reaching an agreement between the United States and Iran to end the conflict and reopen the Strait of Hormuz have diminished, leading to a more than 2% rise in oil prices, the highest level since July 31, 2026. President Trump had demanded compensation for the damages incurred by the United States and confirmed his country's control over the strait and the removal of Iranian mines, which reduced maritime navigation and contributed to a drop in oil exports through the strait from 4.4 million barrels per day to 3 million barrels.
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