{
  "id": 313391,
  "title": "As it happened: Stocks rise despite new tensions in Strait of Hormuz; Oil price climbs",
  "url": "https://urgent.news/2026/08/07/as-it-happened-stocks-rise-despite-new-tensions-in-strait-of-hormuz",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T05:31:55.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/ftse-100-live-stocks-to-slide-on-new-tensions-in-strait-of-hormuz/"
  },
  "original_language": "en",
  "account": "As the City AM liveblog kicked off, tensions in the Strait of Hormuz set markets on edge and derailed earlier optimism surrounding a potential US-Iran peace deal. Oil prices, which had initially fallen due to the week's start, climbed back up after an attack in the strait unsettled investors. The international oil benchmark, Brent crude, surged to $83 per barrel on Friday as Iran reported targeting \"hostile\" entities in the strait following explosions near Qeshm Island. The situation unfolded amid an agreement brokered by Iran and Oman aimed at opening the Strait of Hormuz. Ships entering the waterway would traverse a route closer to Iran, while outgoing vessels would use a passage near Oman. Tehran sought to bar US and Israeli vessels from navigating Hormuz, while also imposing a requirement for hostile countries to compensate before gaining passage. Iran's foreign ministry spokesperson, Esmaeil Baqaei, cautioned that the deal would not assure secure navigation through the strait, citing the US blockade of Iran's ports as a persistent security concern. Tehran officials also claimed the US was not part of the talks, an assertion that contradicted President Trump's ongoing claims of \"knocking the hell out of\" Iran. Despite this, Trump expressed a preference for a deal, citing a desire to avoid casualties. As more market updates and analysis were forthcoming, the liveblog concluded.",
  "summary": "Welcome back to the City AM liveblog. New tensions in the Strait of Hormuz this morning are leaving markets on edge and handing a blow to earlier optimism around a peace deal between the US and Iran. Oil is moving higher, reversing some of the drawback from the beginning of this week, after an attack [...]",
  "key_points": [
    "Tensions in Strait of Hormuz unsettle markets",
    "Brent crude rises to $83 per barrel",
    "Iran demands compensation for hostile countries"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "US Treasury yields drop on soft NFP, Hormuz hopes ease Fed risks",
        "url": "https://urgent.news/2026/08/07/us-treasury-yields-drop-on-soft-nfp-hormuz-hopes-ease-fed-risks",
        "published": "2026-08-07T19:24:30.000Z"
      }
    ]
  },
  "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."
}