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Line chart showing Brent crude climbing 5.1 percent over the week to 87.84 dollars a barrel as the Iran conflict and naval blockade escalated.

Brent crude rose 5.1% over the week to $87.84 a barrel as an escalating Iran conflict pushed oil back toward its earlier highs. Washington said its naval blockade of Iranian ports could continue indefinitely, with no fixed end date, and the US Treasury Secretary promised further economic measures against Iran the following week. The rally erased the discount markets had priced in after June's ceasefire, as attacks on tankers resumed and the blockade was extended rather than wound down.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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