Oil Price Today (July 14): Crude oil hits one-month high at $85 as US-Iran war tensions simmer. Will it cross $100?

Crude oil prices hit one-month highs with Brent at $84.98 per barrel (+2%) and WTI at $79.79 (+2.1%) as US-Iran tensions escalated sharply. The US reinstated its naval blockade of Iran, and military strikes continued near the Strait of Hormuz, with two UAE tankers struck by Iranian missiles killing one Indian crew member. Analysts at Kotak Securities see prices potentially climbing to $85-90, while Nuvama warned that a prolonged Strait of Hormuz closure could disrupt nearly 20 million barrels per day and push oil to $110-150 per barrel.