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2026-07-15 14:08:11
[US-Iran Conflict Escalates, Oil Prices Hold Near One-Month High] 1. On Wednesday during Asian trading hours, international oil prices held near the near one-month high reached overnight. WTI crude was trading around $79.79 per barrel, and Brent crude was trading around $85.46 per barrel. US President Trump reimposed a naval blockade on all Iranian ports, while Iran retaliated with strikes against US facilities in the Middle East, escalating tensions and providing support for oil prices. 2. In a Fox News interview on Tuesday evening, Trump stated, "I'll leave the energy targets for last, but ultimately we'll definitely hit the energy targets." This statement further exacerbated market concerns about energy supply disruptions. 3. The escalation of the conflict over the past few days has again raised doubts about whether the memorandum of understanding signed in June will lead to a permanent ceasefire. KCM Trade's chief market analyst pointed out that if hostilities escalate and damage energy infrastructure in the Gulf region, the possibility of oil prices returning to $100 remains high; however, if diplomatic efforts push for the reopening of the Strait of Hormuz, Brent crude prices may remain in the $75-$80 range. 4. Analysts believe that the current risk premium still exists, but it is not a one-way bet—both sides still have an incentive to seek a diplomatic solution, and any breakthrough in negotiations could quickly reverse the current upward trend.
