{"id":1215,"date":"2026-07-20T17:18:51","date_gmt":"2026-07-20T17:18:51","guid":{"rendered":"https:\/\/valutednews.com\/?p=1215"},"modified":"2026-07-20T17:18:51","modified_gmt":"2026-07-20T17:18:51","slug":"oil-edges-higher-after-trump-says-iran-will-pay-for-u-s-service-members-deaths","status":"publish","type":"post","link":"https:\/\/valutednews.com\/?p=1215","title":{"rendered":"Oil edges higher after Trump says Iran will pay for U.S. service members&#8217; deaths"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108278974-1773761711238-108278974-1773761649691-gettyimages-2266990062-l1070100_zkam1hu8.jpg?v=1784252000&amp;w=1920&amp;h=1080\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Oil edges higher after Trump says Iran will pay for U.S. service members&#8217; deaths\" title=\"Oil edges higher after Trump says Iran will pay for U.S. service members&#8217; deaths\" \/><\/div><p><\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108337345\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108337345\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000419242\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108337346-17845590171784559014-47282324649-1080pnbcnews.jpg?v=1784559016&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Atlantic Council CEO Fred Kempe on U.S.-Iran conflict: 'Neither side has an end game here'\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Oil prices edged higher on Monday after President Donald Trump said Iran would pay for the deaths of three U.S. service members, and Houthi militants in Yemen declared a maritime embargo on Saudi Arabia.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/@LCO.1\/\">Brent crude<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> futures, the international benchmark, were last seen trading 32 cents higher at $88.42 per barrel. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/@CL.1\/\">U.S. West Texas Intermediate crude<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> futures were up 1 cent to $82.50 per barrel. <\/p>\n<p>&#8220;Every time Iran kills an American Soldier they will pay for that killing many times over!&#8221; Trump said in a post on <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/116953296612438865\" target=\"_blank\">Truth Social<\/a>. &#8220;This directive has been passed on to Secretary of War, Pete Hegseth, Chairman of the Joint Chiefs of Staff, Daniel Caine, and every Leader in the Military.&#8221; <\/p>\n<p>Brent jumped nearly 4% overnight to break $90 per barrel, after the U.S. confirmed at least three service members have died during recent fighting with Iran. Prices eased when Iran&#8217;s Foreign Ministry spokesman Esmail Baghaei said negotiations with the U.S. could be pursued based on Tehran&#8217;s interests<\/p>\n<p>Iran&#8217;s Houthi allies in Yemen, meanwhile, declared a <a href=\"https:\/\/www.cnbc.com\/2026\/07\/20\/iran-houthi-yemen-saudi-arabia.html\">maritime embargo against Saudi Arabia<\/a> on Monday. The embargo could exacerbate the oil supply disruption triggered by Iran&#8217;s tanker attacks in Hormuz. The Houthis have repeatedly threatened to close the Bab el-Mandeb Strait, which connects the Red Sea to global markets. <\/p>\n<p>The Saudis have diverted millions of barrels of oil per day through a pipeline to an export terminal on the Red Sea. Those exports have acted as a crucial relief valve for the global crude market during the U.S.-Iran war.  <\/p>\n<p>The U.S. has bombed Iran for nine consecutive nights in retaliation for repeated attacks on oil tankers transiting the Strait of Hormuz. Tehran is trying to force ships to transit the strait through its territorial waters. Its attacks have killed at least two seafarers and injured more than a dozen this month. <\/p>\n<p>An oil products tanker off Oman&#8217;s coast was struck by a projectile over the weekend causing a fire onboard, according to a Sunday incident report from the United Kingdom Maritime Trade Operations Centre. The crew safely abandoned the vessel and were retrieved by a tug boat, UKMTO said. <\/p>\n<p>The <a href=\"https:\/\/www.imo.org\/en\/mediacentre\/hottopics\/pages\/middle-east-highlighted-incidents.aspx\" target=\"_blank\">International Maritime Organization<\/a>, a United Nations agency, identified the tanker as the Kavomaleas, which was sailing under the flag of Malta.  <\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108337126\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108337126\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000419190\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108337127-17845237331784523731-47274083362-1080pnbcnews.jpg?v=1784523732&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Hormuz slowdown can push oil prices to triple digits, but market is still complacent: Energy Aspects\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Iran has responded to U.S. strikes by firing missiles at Washington&#8217;s Middle East allies. Tehran attacked a power and desalination plant in Kuwait over the weekend for the second time in two days, the <a href=\"https:\/\/kuwaittimes.com\/article\/46642\/kuwait\/iranian-attack-sparks-fire-at-kuwaiti-power-and-water-station-second-in-2-days\/\" target=\"_blank\">Kuwait Times<\/a> reported. Kuwait is heavily dependent on such plants for drinking water.<\/p>\n<p>Gasoline prices rose back to $4 per gallon Monday as U.S. crude oil has surged 18% this month, according to AAA. Prices at the pump were last at that level on June 17, when the U.S. and Iran <a href=\"https:\/\/www.cnbc.com\/2026\/06\/17\/trump-vance-iran-deal-nuclear-g7.html\">signed<\/a> an interim agreement intended to reopen the strait and stop the fighting.<\/p>\n<p>Amrita Sen, founder and director of research at Energy Aspects, said a substantial slowdown in shipping traffic through the Strait of Hormuz and depleted global inventories could push oil prices to more than $100 per barrel.<\/p>\n<p>&#8220;The market is still quite complacent despite the price increase we have seen,&#8221; Sen told CNBC&#8217;s &#8220;<a href=\"https:\/\/www.cnbc.com\/access-middle-east\/\">Access Middle East<\/a>&#8221; on Monday.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\"><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged higher on Monday after President Donald Trump said Iran would pay for the deaths of three U.S. service members, and Houthi militants in Yemen declared a maritime embargo on Saudi Arabia. Brent crude futures, the international benchmark, were last seen trading 32 cents higher at $88.42 per barrel. U.S. West Texas Intermediate&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108278974-1773761711238-108278974-1773761649691-gettyimages-2266990062-l1070100_zkam1hu8.jpg?v=1784252000&w=1920&h=1080","fifu_image_alt":"","footnotes":""},"categories":[21],"tags":[2168,2426,1822,126,1738,1553,2427,2428,289,747],"class_list":["post-1215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news","tag-deaths","tag-edges","tag-higher","tag-iran","tag-members","tag-oil","tag-pay","tag-service","tag-trump","tag-u-s"],"_links":{"self":[{"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/posts\/1215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/valutednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1215"}],"version-history":[{"count":0,"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/posts\/1215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/valutednews.com\/index.php?rest_route=\/wp\/v2\/media\/1216"}],"wp:attachment":[{"href":"https:\/\/valutednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/valutednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/valutednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}