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Oil tops $90 as Iran warns Hormuz 'will not be safe'
Oil tops $90 as Iran warns Hormuz 'will not be safe'
Tensions escalated further after Iran's Islamic Revolutionary Guard Corps vowed on Monday that not a "single drop" of oil or gas would pass through the Strait of Hormuz.
Jack Dutton
Jul 20, 2026
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A heavily damaged bridge hit by a US strike is pictured along the road connecting Roudan and Bandar Abbas in southern Iran on July 18, 2026. — Amir Hossein KHORGOOEI / ISNA / AFP via Getty Images
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The conflict between Iran and the United States entered its 10th day on Monday as Tehran warned that "not a single drop" of oil or gas would pass through the Strait of Hormuz, sending oil prices higher amid the continued disruption to shipping through the strategic waterway.
What happened: The latest escalation came after Iran's Islamic Revolutionary Guard Corps warned Monday that the strait would remain unsafe for commercial shipping as long as US "aggression" continued.
In a statement, the IRGC said, "This passage will not be safe for the transit of petrochemical products, nor even a single drop of oil and gas."
The strategic waterway between Iran, Oman and the United Arab Emirates typically carries around a........
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