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Hormuz Attacks Spike, Oil Rises 3% Amid Talks Pause

7/8/2026

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Story summary
  • Tuesday saw the most ship attacks in a day since the U.S.-Iran peace deal.
  • Three vessels—including a Qatari gas carrier and a Saudi crude tanker—were hit in the Strait of Hormuz, prompting evacuation as the Maritime Information Center raised the threat level severe.
  • Oil and European gas futures rose, oil over three percent and gas about seven percent.
  • U.S.-Iran talks stopped for a mass funeral for Supreme Leader Ali Khamenei.