Oil prices rise more than 4% as renewed West Asia conflict risks prolonged Strait of Hormuz closure

Iran Herald · June 8, 2026 War

New Delhi [India], June 8, (ANI): Global crude oil prices rose more than 4 per cent after Israel and Iran exchanged strikes, threatening a fragile ceasefire even as Trump signalled that a peace deal isn't far away. The renewed conflict raised fears of a prolonged closure of the critical Strait of Hormuz. Brent crude futures rose $4.