Oil prices surge above $78 amid Iran's tanker attacks and tensions
Oil prices surged to over $78 a barrel after Iran attacked multiple tankers near the Strait of Hormuz on Wednesday. This escalation prompted Donald Trump to declare the ceasefire with Iran 'over'. Industry experts warn that halting tanker traffic could significantly impact global oil and gas supplies and increase energy prices for consumers.
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Summary by OZbrief Editorial · The Guardian Australia – Business · Source
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Published 08 Jul 2026, 15:18 UTC · Updated 08 Jul 2026, 15:40 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
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