Oil prices rose after the U.S. declared its ceasefire with Iran, as tanker traffic through the Strait of Hormuz slowed.
WHO:Rystad Energy (Jorge Leon)
WHAT:Oil prices rose amid renewed geopolitical risk and reduced tanker traffic through the Strait of Hormuz.
WHEN:Jul 8, 2026 at 2:29 PM ET
WHERE:Persian Gulf
WHY:The U.S. declared the ceasefire with Iran over Iranian attacks on commercial ships in the Strait of Hormuz and on American military sites in other Gulf nations.
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