Oil Price Today (July 13): Crude oil up almost 5%, nears $80 as US, Iran unleash more strikes. $100 in sight?

Crude oil prices surged almost 5 percent on July 13 as renewed US-Iran strikes escalated geopolitical tensions. Brent crude rose 4.38 percent to $79.5 a barrel and WTI gained 4.30 percent to $74.20 a barrel, with European natural gas futures also up 2.5 percent. Iran expanded strikes to Qatar and the UAE while the US carried out fresh attacks, threatening the interim agreement signed last month and raising fears of prolonged Strait of Hormuz disruption, which analysts warn could push prices to $110-$150 a barrel.