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Oil jumps as Trump claims new Hormuz blockade on Iran

A line chart that tracks Brent crude oil prices per barrel from June 15 to July 13, 2026. Prices opened at $83.29 on June 15, fell to $73.24 on June 29, and recovered to $82.79 by 2:54 p.m. ET July 13. The range spans $70.30 to $83.76.

Brent crude oil prices

Data: Financial Modeling Prep; Chart: Ben Geman/Axios

Inside Lindsey Graham's final push for Saudi-Israel peace

U.S. and Iran trade strikes after IRGC declares Strait of Hormuz "closed"

Iran's supreme leader pledges revenge for his father's assassination amid Trump death threats

U.S. gives Iran Saturday deadline to publicly renounce Hormuz attacks

Trump says Iran talks will continue, but "ceasefire is OVER"

Markets

Axios Markets

Why fuel prices stay high as oil prices steady

A line chart that tracks U.S. diesel crack spreads, in dollars per barrel, from July 9, 2024, to July 9, 2026. The spread was $21.69 on July 9, 2024, $22.39 on Jan. 7, 2025, $32.33 on July 8, 2025, and peaked at $72.9 on July 9, 2026.

U.S. diesel crack spreads, in dollars per barrel 

Data: FactSet; Chart: Matt Phillips/Axios

Regional mediators push to salvage U.S.-Iran deal

Trump revels in fire and might while selling the Iran war's end

Trump revels in fire and might while selling Iran war's end

The Iran war's limited boost for energy transition

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