Middle East Tensions Spike Oil Prices | Tulsa News

Tulsa News Today | 2 Min News | The Daily News Now! · Jul 9, 2026 · 1m

Middle East tensions flare again as Iran and the U.S. exchange fresh strikes, sending oil prices soaring toward $80 a barrel and rattling global markets. A hoped-for ceasefire is dead after Trump shuts it down, with Iran hitting Bahrain, Kuwait, and Qatar while U.S. airstrikes target Iran. Asian stocks mixed—Tokyo’s Nikkei rose on tech gains, Shanghai fell amid rising inflation fears tied to the conflict. Oil’s rally stems from shaky ceasefire talks and shrinking tanker traffic through the Strait of Hormuz. Wall Street ended lower overall, dragged down by Trump’s comments, though the Nasdaq…