Oil Prices Remain Elevated Amid Shipping Traffic Slowdown in Strait of Hormuz

President Trump said the latest U.S. attacks, which targeted around 90 sites along Iran’s coast, were “retribution” for Iran’s attacks on commercial ships in the strait, a vital waterway for the region’s energy exports. Mohammad Bagher Ghalibaf, Iran’s top negotiator in peace talks, said that the strait “will open only under Iranian arrangements, not American threats.”

Article source: https://www.nytimes.com/2026/07/09/business/oil-shipping-stocks-gas-iran-hormuz.html