Oil prices rise as attacks revive safety concerns in the Strait of Hormuz

Iran warOil prices rise as attacks revive safety concerns in the Strait of HormuzStocks fell after reports of oil and gas tankers being fired upon. But shares of semiconductor makers weighed heavily on markets, too.Listen to this article with a free profile00:0000:00Three vessels in or near the Strait of Hormuz were reportedly hit by projectiles that a U.S. official said were fired by Iran, all in under 24 hours.ReutersShareAdd NBC News to GoogleJuly 7, 2026, 1:37 PM EDTBy Steve KopackOil prices jumped Tuesday to their highest level since late last week after reports that two tankers transiting the Strait of Hormuz had been hit by unknown projectiles.Subscribe to read this story ad-freeGet unlimited access to ad-free articles and exclusive content.U.S. crude oil rose more than 3% to above $70 per barrel for the first time since July 1. International Brent crude oil also rose 3% to more than $74 per barrel.Earlier on Tuesday, the U.K.’s Maritime Trade Operations center said it had received two reports of attacks on ships “transiting the Strait of Hormuz.” One of them was “struck by an unknown Uncrewed Aerial Vehicle,” the agency said, and a second vessel was “struck by an unidentified projectile and is believed to have structural damage.” An attack on a third ship off the coast of Oman Tuesday caused a fire to break out on board, said UKMTO.A U.S. official confirmed the UKMTO reports, telling NBC News that Iran’s Islamic Revolutionary Guard Corps had fired missiles at two ships Tuesday and struck a third commercial vessel with at least one drone.The U.S. military also shot down additional drones that had been fired by Iran, the official said. Adding to worries for oil traders on Tuesday was a report from Reuters that one of the ships, which it identified as a liquefied natural gas tanker, the Al Rekayyat, was “at risk of exploding due to a fire in its engine room.” NBC News has not been able to verify that report.U.S. Treasury yields rose along with oil prices, with...