ReportedShipping, energy & marketsNew York, United States
Brent rises to about $88, up 16% in a week of U.S.-Iran fighting
- Mountain Time
- Local time
- 2:30 PM in New York
- Where
- New York, United States
Brent crude rose 4.6% on Friday to about $88 a barrel, 16% above the previous week's roughly $76, and U.S. crude rose 4.5% to $82.49, as fighting kept Hormuz largely shut and raised fears for the Red Sea route.
Why it matters
Prices had fallen below their pre-war level in late June; the renewed fighting reversed that in less than two weeks.
Sources (2)
- CNN live updatescnn.comPublished
- Al Jazeera live blogaljazeera.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels
Correction
- Corrected the time from 4:00 PM New York time, Jul 18, 2026 to 2:30 PM New York time, Jul 17, 2026; corrected the headline (it read "Brent tops USD 88, up 16% on the week"); revised the summary; revised the context note; corrected the location from New York energy markets to New York, United States; reclassified it from market to energy-markets; updated the sourcing note; added a source: Al Jazeera live blog; removed Al Jazeera as a source (a background article from four days earlier). Why and evidence