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At close · Wed, Jul 22, 2026
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Oil rises as tanker incident near Saudi Arabia lifts Iran risk

Markets repriced after a tanker struck off Saudi Arabia and U.S. President Donald Trump warned of potential strikes on Iranian infrastructure tied to any attacks on ships near the Strait of Hormuz.

Reported · Written up by our desk · Energy

Oil prices climbed after a tanker incident off Saudi Arabia renewed attention on regional shipping risks.

According to CNBC, the move came as U.S. President Donald Trump escalated threats toward Iran, saying the U.S. could bomb Iranian infrastructure if attacks occur on ships transiting the Strait of Hormuz.

The report linked the increase in crude prices directly to heightened concern that any disruption to that key shipping route could intensify tensions in the region.

Latest closeWTI crude $87.52 ▲3.1%

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Sources

CNBC MarketsOil prices climb after tanker struck off Saudi Arabia, Trump escalates Iran threats
CNBC WorldOil prices climb after tanker struck off Saudi Arabia, Trump escalates Iran threats

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