{
  "id": 242775,
  "title": "US-Iran war news LIVE: Oil prices continue to rise as Iran attacks 'hostile targets' in Strait of Hormuz",
  "url": "https://urgent.news/2026/08/07/us-iran-war-news-live-oil-prices-continue-to-rise-as-iran-attacks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T00:18:33.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/us-news/us-iran-war-news-latest-live-updates-donald-trump-strait-of-hormuz-middle-east-conflict-crude-oil-brent-ceasefire-talks-11786059906604.html"
  },
  "original_language": "en",
  "account": "Oil prices continued to rise as Iran reportedly attacked \"hostile targets\" in the Strait of Hormuz, raising concerns over access to the critical waterway. West Texas Intermediate (WTI) soared above $78 a barrel after surging nearly three percent in the previous session, while Brent settled near $82. The attacks occurred on Thursday night after explosions were reported near Qeshm Island in Hormuz, according to Fars news agency. Following the incidents, the US and Iran faced heightened tensions, with US President Donald Trump expressing confidence that the conflict would conclude soon, and crediting ongoing negotiations related to the Strait of Hormuz. Meanwhile, Iran's President Masoud Pezeshkian touted the nation's resilient governance and cooperation from neighboring countries during the ongoing West Asia conflict, asserting that ordinary citizens were largely unaffected. Saudi Arabia reported injuries to over 10 civilians, including a four-year-old, in the region of Najran due to a series of attacks by Yemen's Houthi rebels.",
  "summary": "Oil prices have risen following reports that Iran attacked \"hostile targets\" in the Strait of Hormuz on August 6 night local time. According to the Straits Times Business, West Texas Intermediate rose above $78 a barrel and Brent settled around $82.\n\nIran is seeking to bar US and Israeli ships from the Strait of Hormuz and require compensation from hostile countries to use it, based on a proposed Iran-Oman deal. The agreement, which is under review in Iran's parliament, also proposes a ban on cargo related to Israel and a fee structure for services like insurance and environmental costs, as reported by the South China Morning Post.\n\nUS President Donald Trump has expressed optimism that the conflict with Iran will end soon, stating that he thinks it will end \"pretty soon\" and that Iran \"can't go much longer\". The US has insisted on free transit through the strait and a return to the pre-war status quo, while Iran is pushing for its proposed deal, according to the Straits Times Business.",
  "key_points": [
    "Oil prices surge above $78 a barrel",
    "Iran attacks hostile targets in Strait of Hormuz",
    "US President Trump confident of conflict resolution"
  ],
  "editors_take": "The rising tensions between the US and Iran, marked by fresh attacks in the Strait of Hormuz, have pushed oil prices up, adding strain to an already volatile region.",
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Live Mint",
        "title": "Petrol, diesel prices today — 7 Aug: Fuel rates in Delhi, Mumbai, Bengaluru as Brent climbs on Iran strikes in Hormuz",
        "url": "https://urgent.news/2026/08/07/petrol-diesel-prices-today-7-aug-fuel-rates-in-delhi-mumbai-bengaluru",
        "published": "2026-08-07T01:52:19.000Z"
      },
      {
        "outlet": "The National UAE",
        "title": "Houthis hit Saudi Arabia, Iran makes demands in Strait of Hormuz talks and Dubai foils gold smuggling plot",
        "url": "https://urgent.news/2026/08/07/houthis-hit-saudi-arabia-iran-makes-demands-in-strait-of-hormuz-talks",
        "published": "2026-08-07T07:05:18.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "Expert reacts to potential Iran-Oman Strait of Hormuz deal; Ted Cruz says U.S. needs to arm Iranians",
        "url": "https://urgent.news/2026/08/07/expert-reacts-to-potential-iran-oman-strait-of-hormuz-deal-ted-cruz",
        "published": "2026-08-07T16:54:53.000Z"
      },
      {
        "outlet": "Middle East Eye",
        "title": "US official: 'We expect a deal soon' between Iran and Oman on Strait of Hormuz",
        "url": "https://urgent.news/2026/08/07/us-official-we-expect-a-deal-soon-between-iran-and-oman-on-strait-of",
        "published": "2026-08-07T19:40:21.000Z"
      },
      {
        "outlet": "Al-Monitor",
        "title": "US official: We expect a deal soon between Iran and Oman on Strait of Hormuz",
        "url": "https://urgent.news/2026/08/07/us-official-we-expect-a-deal-soon-between-iran-and-oman-on-strait-of-280729",
        "published": "2026-08-07T19:46:36.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Iran war live: Trilateral Mecca defence pact signed, as Hormuz deal looms",
        "url": "https://urgent.news/2026/08/08/iran-war-live-trilateral-mecca-defence-pact-signed-as-hormuz-deal",
        "published": "2026-08-08T00:00:00.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "Iran says deal on Strait of Hormuz is close but will not open the waterway by itself",
        "url": "https://urgent.news/2026/08/08/iran-says-deal-on-strait-of-hormuz-is-close-but-will-not-open-the-311595",
        "published": "2026-08-08T12:51:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}