Oil Prices Fall Despite U.S. Strikes on Iran

Oil fell 1.31% to $83.62 a barrel on July 15, 2026, despite new U.S. strikes on Iran. Prices had surged 9.59% on July 13 and hit a one-month high July 14 after the U.S. reimposed a naval blockade on Iran. The drop suggests traders already factored in supply risks and want proof oil shipments through the Strait of Hormuz are actually being blocked before sending prices higher.