Branch² Intelligence

Crude oil prices jump 3% amid renewed US-Iran war tensions; Brent crude above $78 per barrel

IN · 2026-07-13

Key takeaway

Brent crude jumps 3% above $78/bbl as US-Iran tensions escalate, threatening supply from the Strait of Hormuz.

Step 1US-Iran military escalation threatens Strait of Hormuz shipping, triggering a 3% Brent crude spike above $78/bbl.
Step 2Higher crude prices increase India's import bill, widening the trade deficit and pressuring the rupee (INR depreciation).
Step 3Indian fuel retailers (IOCL, BPCL, HPCL) raise diesel/petrol prices; petrochemical feedstock costs rise, squeezing SME margins in logistics, plastics, and packaging.

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