Oil prices surged more than 4% on Monday, July 13, 2026, following a fresh flare-up between the United States and Iran that threatened their already fragile truce. Brent crude rose to $82.45 a barrel, while West Texas Intermediate climbed to $78.90, according to market data.
The incident, reported by multiple news agencies, involved a confrontation near the Strait of Hormuz, a key oil shipping route. No casualties were reported, but the event raised fears of supply disruptions.
In Asian stock markets, Seoul led losses as technology shares suffered another selloff. The Kospi index fell 2.3%, driven by declines in semiconductor and electronics stocks. Other regional markets, including Tokyo and Shanghai, also posted losses.
Analysts noted that the oil price spike was driven by geopolitical risk premiums, while tech stocks continued to face pressure from regulatory concerns and slowing demand. The situation remains fluid, with traders watching for further developments.
