Oil Prices Jump 5% as U.S. and Iran Clash Over Reopening Key Shipping Route

U.S. oil closed at $82.13 a barrel on August 10, 2026, up about 5%. Both Iran and the U.S. want payment to reopen the Strait of Hormuz, a narrow waterway that carries much of the world's oil. Iran hinted at a deal, but the conflicting demands spooked markets. Stocks fell that day.