Business

Oil Prices Rise and Stock Futures Fall After U.S.-Iran Strait of Hormuz Strikes

The two countries continued tit-for-tat attacks around the Strait of Hormuz over the weekend.

الخليج العربي، مضيق هرمز الذي يصل الخليج العربي بخليج عمان. — *الخليج العربي، مضيق هرمز الذي يصل الخليج العربي ب…* Strait Of Hormuz Almajidy / Wikimedia Commons (CC BY-SA 4.0)

By Free News Press Editorial Team

Published July 13, 2026 at 1:45 AM PDT

Oil prices rose and U.S. stock-index futures slipped on Sunday after the United States and Iran continued exchanging strikes near the Strait of Hormuz over the weekend, according to MarketWatch.

The Strait of Hormuz is one of the world's most critical chokepoints for oil shipments. Disruptions to transit through the strait can have immediate effects on global energy prices.

The latest flare-up sent oil prices higher as markets reacted to the renewed hostilities. U.S. stock-index futures moved lower in response.

STRAIT OF HORMUZ (May 11, 2012) The guided-missile cruiser USS Cape St. George (CG 71) and the aircraft carrier USS Abraham Lincoln (CVN 72) transit the Strait of Hormuz. Both ships are deployed to the U.S. 5th Fleet area of responsibility conducting maritime security operations, theater security co — *STRAIT OF HORMUZ (May 11, 2012) The guided-missil…* Strait Of Hormuz Official Navy Page from United States of America Alex R. Forster/U.S. Navy / Wikimedia Commons (Public domain)