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2026-07-14 09:00:11
[International Oil Prices See Largest Single-Day Gain in 6 Years] International crude oil futures prices surged in early trading on the 13th due to escalating tensions between the US and Iran and the US announcement of a renewed naval blockade against Iran, closing up over 9%, marking the largest single-day gain since May 2020. After opening on the second trading day that evening, international oil prices continued to rise by over 1%. At the close on the 13th, the price of light sweet crude oil futures for August delivery on the New York Mercantile Exchange rose $6.73 to settle at $78.14 per barrel, a gain of 9.42%; the price of Brent crude oil futures for September delivery on the London ICE Futures Exchange rose $7.29 to settle at $83.30 per barrel, a gain of 9.59%. Analysts at ING Bank stated that the escalating conflict has reduced traffic in the Strait of Hormuz to low levels, reigniting concerns about tight oil supplies in the third quarter. Rania Goule, senior market analyst at global financial brokerage XS Group, said that the current trend in the energy market is not just a short-term technical rebound, but also a repricing of geopolitical risks. (CCTV)
