Oil rises on intensifying US-Iran hostilities and threat of Red Sea closure

🌐 Channel NewsAsia (Singapore) — 2026-07-17

Oil prices rose amid escalating hostilities between the US and Iran and fears over potential closure of the Red Sea shipping route. The intensifying conflict threatens global energy supply stability.

World Security Conflict Politics Markets Commodities Energy Shipping oil prices US-Iran hostilities Red Sea closure energy markets global supply

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Oil rises on intensifying US-Iran hostilities and threat of Red Sea closure

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