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Brent oil holds near $95 as U.S. strikes Iran for an eleventh consecutive day, Rubio pledges Hormuz protection

7/22/2026

Brent crude, the international benchmark for oil prices, is holding near $95 a barrel as the United States enters an eleventh consecutive day of military strikes against Iran.

Secretary of State Marco Rubio said Washington will "continue to protect shipping" in the Strait of Hormuz, the narrow waterway linking Persian Gulf oil producers to the world's major import markets.

The stated American objective is to degrade Iran's capacity to threaten commercial vessels transiting that passage. What Washington says it is doing The U.S.

has framed this campaign around one stated goal: "degrade Iran's ability to threaten commercial shipping." That framing places the legal and political weight on Iran's conduct in international waters rather than on any broader territorial aim.