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Oil climbs 4% after Iran closes Hormuz, dollar strengthens

7/13/2026

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Summary

Story summary

Brent crude and U.S. oil prices rose about 4% after Tehran announced the Strait of Hormuz closure.
U.S. officials said 20 ships were escorted through the strait in the prior 24 hours, contradicting Tehran's claim.
The dollar strengthened, with the yen at 162.05 per dollar, after Finance Minister Satsuki Katayama urged domestic investment by the Government Pension Investment Fund.

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Story summary

Brent crude and U.S. oil prices rose about 4% after Tehran announced the Strait of Hormuz closure.
U.S. officials said 20 ships were escorted through the strait in the prior 24 hours, contradicting Tehran's claim.
The dollar strengthened, with the yen at 162.05 per dollar, after Finance Minister Satsuki Katayama urged domestic investment by the Government Pension Investment Fund.