Crude Oil Price Today, 13 July 2026: Brent Surges 3% to $78.35 as US-Iran Strikes Threaten Strait of Hormuz Supplies
- July 13, 2026
- Posted by: Kunal Singla
- Category: News
Crude oil price today: Brent +$2.34 (+3.08%) at $78.35 a barrel. WTI +$2.21 (+3.09%) at $73.62. Iran expands strikes on Gulf states after US attacks. Strait of Hormuz shipments at risk.
The crude oil price today jumped around 3 percent on Monday, 13 July 2026, after Iran expanded strikes on Gulf states following attacks by the United States, threatening energy shipments through the Strait of Hormuz. Brent crude futures climbed 2.34 dollars, or 3.08 percent, to 78.35 dollars a barrel, while US West Texas Intermediate rose 2.21 dollars, or 3.09 percent, to 73.62 dollars a barrel.
The renewed escalation in the Middle East has revived the geopolitical risk premium in energy markets just as Indian equities were finding their feet after last week’s volatility. For importers like India, the crude oil price today is a direct input into inflation, the currency and corporate margins.
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Crude Oil Price Today: Key Levels
| Benchmark | Price | Change |
|---|---|---|
| Brent crude futures | $78.35 per barrel | +$2.34 (+3.08%) |
| WTI crude futures | $73.62 per barrel | +$2.21 (+3.09%) |
The move takes Brent back towards the highs seen during the previous flare-up earlier this month, when the index had crashed after the ceasefire between the US and Iran was declared over. Traders say the crude oil price today is pricing in supply risk rather than actual supply loss, since shipments through Hormuz continue for now. War-risk insurance premiums on Gulf tanker routes have already firmed, and freight desks report longer voyage planning around the region, both of which add friction costs that keep a floor under prices even without a physical outage.
Why the Crude Oil Price Today Is Rising
1. Escalating US-Iran Conflict
Iran has expanded strikes on Gulf states in retaliation for attacks by the United States, widening a conflict that markets had hoped was de-escalating. Any attack on energy infrastructure in the Gulf would directly hit physical supply.
2. Strait of Hormuz Chokepoint Risk
Roughly a fifth of global oil supply moves through the Strait of Hormuz. Even a partial disruption or higher war-risk insurance premiums on tankers can lift the crude oil price today by several dollars, as shipping costs and delays cascade through the market.
3. Inventory and Positioning Effects
With speculative positioning having turned lighter after the earlier ceasefire, fresh geopolitical headlines are forcing traders to rebuild long positions quickly, amplifying the intraday move in the crude oil price today. Options markets show a jump in demand for upside calls on Brent, a sign that hedgers are paying up for protection against a further escalation scenario rather than betting on a quick retracement.
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Impact of the Crude Oil Price Today on Indian Markets
Rising crude is a headwind for India, which imports over 85 percent of its oil needs. A sustained rise pressures the rupee, widens the current account deficit and lifts input costs for paints, aviation, tyres and oil marketing companies. Sectors such as upstream oil producers and select gas players, however, tend to benefit. The Nifty 50 and Sensex had closed over 1 percent higher on Friday, and the oil spike is the key overhang on sentiment today.
Aviation and paint stocks are the most sensitive to the crude oil price today, since fuel and crude derivatives form a large share of their cost base. Oil marketing companies face marketing margin pressure if retail fuel prices stay unchanged while input costs climb. City gas distributors and chemical companies with crude-linked feedstock are also worth watching as second-order casualties of a sustained rise in the crude oil price today.
Outlook: What Can Move Crude Prices Next
The trajectory from here depends on whether strikes touch export infrastructure, how OPEC plus responds on supply, and whether diplomatic channels revive. Analysts caution that if the Strait of Hormuz faces an actual disruption, Brent could spike well above 85 dollars, while a quick de-escalation could pull the crude oil price today back towards the low 70s. Positioning for either tail requires discipline rather than conviction bets.
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Conclusion
The crude oil price today, with Brent at 78.35 dollars and WTI at 73.62 dollars after a 3 percent surge, reflects a rebuilt war-risk premium as US-Iran hostilities widen and the Strait of Hormuz comes under threat. For Indian investors, the spike matters through inflation, the rupee and sector margins, and it is the single biggest global cue to track this week. Consult a SEBI-registered advisor before repositioning portfolios around volatile energy moves.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions FAQs
Why did the crude oil price today jump 3 percent?
Ans. The crude oil price today jumped about 3 percent because Iran expanded strikes on Gulf states following attacks by the United States, threatening energy shipments through the Strait of Hormuz.
What is the Brent crude oil price today?
Ans. Brent crude futures climbed 2.34 dollars, or 3.08 percent, to 78.35 dollars a barrel on Monday, 13 July 2026.
What is the WTI crude oil price today?
Ans. US West Texas Intermediate crude rose 2.21 dollars, or 3.09 percent, to 73.62 dollars a barrel.
Why is the Strait of Hormuz important for oil prices?
Ans. Roughly one-fifth of global oil supply passes through the Strait of Hormuz, so any threat of disruption in the waterway sharply raises supply risk and lifts crude prices worldwide.
Which Indian sectors are hit by rising crude oil prices?
Ans. Aviation, paints, tyres and oil marketing companies face cost pressure when crude rises, while upstream oil producers tend to benefit. Rising crude also pressures the rupee and inflation.
What is the outlook for crude oil prices now?
Ans. The outlook depends on whether the US-Iran conflict touches export infrastructure. Analysts see Brent spiking above 85 dollars if Hormuz is disrupted, while a de-escalation could pull prices back towards the low 70s.
