Oil crosses $100 amid rising US and Iran tensions

Business Jul 24, 2026

Oil just crossed the $100-a-barrel mark, thanks to rising tensions between Iran and the US.

The Strait of Hormuz, a major route for global oil, has seen more military activity lately, making shipping riskier and pricier.

Recent attacks on ships and talk of possible conflict have markets worried about oil supply disruptions.

Economists warn higher energy, transport costs

With former president Trump hinting at a "massive" operation against Iran, uncertainty is running high.

Economists say if this instability drags on, we could see higher costs for energy and transportation worldwide—meaning things like travel or deliveries might get more expensive for everyone.