Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Iran Strikes Near Hormuz Send Oil Prices Soaring Again

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices surged on Friday, August 7, after reports emerged that Iran had struck 'hostile targets' in the Strait of Hormuz. This deepened concerns over the security of one of the world's most critical energy corridors.

Brent crude climbed above $83 a barrel, adding to an almost 4% surge in the previous session, while West Texas Intermediate traded near $78.

The latest gains followed explosions near Qeshm Island in the Strait of Hormuz on Thursday night, which Iran's semi-official Fars News Agency linked to the strikes.

More on Commodities

Commodities 4m ago

Gold Edges Higher Amid US Jobs Data Uncertainty

Commodities 4m ago

Gold Hits 7-Week High on Weaker Dollar and Falling Yields

Commodities 7m ago

T&T's Oil Production Stabilizes at 54,000 Barrels Per Day

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy