Oil Drops on Priced-In Supply Risk

Brent crude fell 1.31% to $83.62 on July 15, 2026, despite fresh U.S. strikes on Iran. The dip followed a 9.59% surge on July 13 and a one-month high on July 14 after the U.S. reimposed a naval blockade on Iran. Traders had already priced in disruption risk — they need proof of sustained flow loss through the Strait of Hormuz to push prices higher.