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Iran attacks ship, oil spikes, US inventories dip

6/27/2026

25 2 Full Breakdown

Summary

Story summary

U.S. officials said Iran fired on a cargo ship that was hit near the Strait of Hormuz on June 26.
Oil prices climbed after the incident, with WTI above $71 a barrel and Brent near $75.
Strait of Hormuz flows reached 20 million barrels in 24 hours, near pre-war levels.
The Energy Information Administration reported U.S. crude inventories fell to their lowest since 1984 because of refining demand and reserve releases.

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Story summary

U.S. officials said Iran fired on a cargo ship that was hit near the Strait of Hormuz on June 26.
Oil prices climbed after the incident, with WTI above $71 a barrel and Brent near $75.
Strait of Hormuz flows reached 20 million barrels in 24 hours, near pre-war levels.
The Energy Information Administration reported U.S. crude inventories fell to their lowest since 1984 because of refining demand and reserve releases.