Crude prices rise as U.S. launches strikes on Iran shortly after canceling its license to sell oil

Left: Military experts issue dark warning about path forward after new strikes: &#39;Last turn&#39; — www.rawstory.com
Center-Left: <a href="https://www.axios.com/2026/07/07/us-strikes-iran-hormuz-ship-attacks" rel="noopener nofollow">U.S. strikes Iran after attacks on vessels in Strait of Hormuz — www.axios.com
Center-Left: <a href="https://www.axios.com/2026/07/07/us-revokes-iran-oil-waivers-hormuz-strait-attacks" rel="noopener nofollow">U.S. revokes Iran oil waivers after attacks in Strait of Hormuz — www.axios.com
Center-Left: <a href="https://www.theguardian.com/world/live/2026/jul/07/us-military-strikes-iran-war-latest-news-updates" rel="noopener nofollow">Middle East crisis live: Trump says memorandum of understanding with Iran is ‘over’ but talks can continue — www.theguardian.com
Center-Right: <a href="https://thehill.com/business/5957965-oil-prices-jump-5-percent-after-u-s-revokes-iran-oil-sanctions-waiver/" rel="noopener nofollow">Oil prices jump 5 percent after U.S. revokes Iran oil sanctions waiver — thehill.com
Right: <a href="https://www.theblaze.com/news/oil-prices-recover-strait-iran" rel="noopener nofollow">Oil prices DROP to pre-Iran-conflict levels — www.theblaze.com
Right: <a href="https://www.theblaze.com/news/iranians-are-openly-calling-for-trumps-assassination-at-the-former-ayatollahs-funeral" rel="noopener nofollow">Iranians are openly calling for Trump&#39;s assassination — at the former ayatollah&#39;s funeral — www.theblaze.com
Right: <a href="https://www.foxnews.com/politics/trump-says-iran-ceasefire-over-after-iranian-attacks-trigger-massive-us-response" rel="noopener nofollow">Trump says Iran ceasefire is &#39;over&#39; after Iranian attacks trigger massive US response — www.foxnews.com

Source: www.marketwatch.com · Section: business-tech · Bias: Center · Published: Tue, 07 Jul 2026 22:11:00 GMT

Oil futures climbed late Tuesday after the Treasury Department canceled a license granted on June 21 to allow for the sale of Iranian oil.