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Oil Jumps After US and Iran Trade Strikes, Hormuz Traffic Slows
Posted
July 17, 2026
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July 17, 2026
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5:24Now PlayingOil surged on growing fears the US and Iran could return to full war, threatening flows through the Strait of Hormuz. Global benchmark Brent rose more than 3.5% to trade around $87 and is on track for its biggest weekly advance since April. The commodity surged to intraday highs after Axios reported that the US is sending dozens of refueling planes to Israel, raising expectations of a near-term escalation in the conflict that has roiled enrgy markets in recent months. Rebecca Babin, Senior Equity Trader and Managing Director at CIBC Private Wealth joins to discuss.
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