← Latest news 
Oil jumps after Iran US clashes revive Hormuz fears and disrupt hopes for reopening
Economy
Published on 8 May 2026
A three day slide ends as Hormuz risk returns
Oil prices rose more than 1% after renewed Iran US clashes revived concerns about the Strait of Hormuz. The fight has clouded expectations of reopening routes, with Iran accusing the US of breaching a ceasefire and the US pointing to retaliation for attacks on its vessels. Experts warn escalation could disrupt global oil flows despite recent declines.
- Crude oil rebounds after a three day losing streak
- Hormuz stability fears resurface following renewed clashes
- Conflicting claims from both sides over ceasefire breaches
- Escalation threatens global supply disruptions
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times