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The military standoff between America and Iran in the Middle East is not slowing down. Tension is at its peak across the Gulf region after massive air strikes and missile launches from both sides in the last 24 hours. According to the latest ground inputs, several loud explosions have been heard one after the other in several coastal cities of Iran, including Bushehr (where the nuclear plant is located) and Iranshahr Airport.
However, meanwhile, US President Donald Trump has clearly denied any new attack. At the same time, Iran’s aggressive army Islamic Revolutionary Guard Corps (IRGC) has openly warned America that if interference continues in the Strait of Hormuz, which is the lifeline of global oil trade, then this waterway will not be allowed to become normal, due to which many countries of the world will have to suffer huge economic losses. Amidst this fierce geopolitical turmoil, crude oil prices in the international commodity market have surprised everyone.
Fear of $100 and softening of crude at $76: Understand the price fluctuations
Recently, when a preliminary ceasefire was agreed upon between the two countries, crude oil fell to a record low. $65 per barrel Had reached the level of. But after the missile attack on two commercial oil tankers in the Strait of Hormuz, as soon as the US Army retaliated with air strikes on 90 military bases of Iran, there was panic in the market.
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Experts fear: Commodity experts had feared that if this direct war between the two countries is not stopped, then crude prices will rocket again. $100 per barrel Will go beyond. Due to this fear, a day before, Brent crude had jumped to $79.
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Fresh relief (Friday morning trend): from the international market today (10 July 2026) News of relief came in the morning. After the restrained statement of President Trump, softening of crude oil prices is being seen.
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global standard Brent Crude falling from the upper levels 76 dollars per barrel But it has arrived.
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Whereas American standards wti crude There has also been a decline in and this $72 per barrel But is trading.
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If the Strait of Hormuz is closed, why will there be devastation in the world?
According to Iran’s news agency ‘IRNA’ ($IRNA$), the global market cannot take the threat of IRGC lightly. Stretching from the Strait of Hormuz to the Gulf of Oman, coastal areas such as Bushehr, Sirik, Abu Musa Islands, Jask and Chabahar directly control global shipping routes. About 20% of the world’s crude oil is transported through this narrow waterway. If Iran completely stops the movement of ships here, the global supply chain of crude oil will break and there will be a surge in prices which will be difficult to handle.
Will petrol and diesel be cheaper in the country? Know the latest rates of Delhi
Even though the price of crude oil in the international market may have seen a softening of $3 this morning, in view of the uncertainty of the last few days and the threat looming on the supply chain, the price of crude oil in the Indian market has declined. Hopes of reduction in prices of petrol and diesel are almost over. Government oil companies (IOCL, BPCL, HPCL) are in no mood to make any changes in retail prices at present in view of global risks.
According to the official rates released by oil companies on Friday morning, prices have remained stable in the major metros of the country: