NEW YORK (AP) — Oil prices rose in early trading Sunday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies.
The price of U.S. crude oil increased 6.4% to $87.90 per barrel an hour after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 5.8% to $95.64 per barrel.
The market reaction followed more than two days of lifted hopes and dashed expectations involving the strait. Crude prices plunged more than 9% Friday after Iran said it would fully reopen the strait, which it effectively controls, to commercial traffic.
Tehran reversed that decision and fired on several vessels Saturday after President Donald Trump said a U.S. Navy blockade of Iranian ports would remain in effect. On Sunday, Trump said the U.S. attacked and forcibly seized an Iranian-flagged cargo ship that allegedly tried to get around the blockade. Iran’s joint military command vowed to respond.
Sunday's higher prices wiped out much of the declines seen Friday, signaling renewed doubts about how soon ships will again transport the vast amounts oil the world gets from the Middle East.
The US-Israeli war against Iran, now in its eighth week, has created one of the worst global energy crises in decades. Countries in Asia and Europe that import much of their oil from the Gulf have felt the most impact of halted supplies and production cuts, although rapidly rising gasoline, diesel and jet fuel prices are affecting businesses and consumers worldwide.
Asked when he thought U.S. motorists would again see gas cost less than $3 a gallon on average, Energy Secretary Chris Wright said prices at the pump might not go down that much until next year.
“But prices have likely peaked, and they’ll start going down,” Wright told CNN’s “State of the Union” on Sunday.
The price of crude oil — the main ingredient in gasoline — has fluctated dramatically since the U.S. and Israel attacked Iran on Feb. 28, and as Iran retaliated with airstrikes on other Gulf states. Crude traded at roughly $70 a barrel before the conflict, spiked to more than $119 at times, and previously closed Friday at $82.59 for U.S. oil and $90.38 for Brent.
Industry analysts have repeatedly warned that the longer the strait is closed, the worse prices could get.
A fragile, two-week ceasefire between the U.S. and Iran is set to expire Wednesday, while escalating tensions in the Strait of Hormuz puts the fate of new talks to end the war into question.
Even if a lasting deal to reopen the Strait of Hormuz emerges, analysts say it could take months for oil shipments to return to normal levels and for fuel prices to go down. Backed-up tanker traffic, shipowners concerned about another sudden escalation, and energy infrastructure damaged during the war are factors that could impede production and shipment volumes from returning to pre-war levels.
A gallon of regular gas cost an average of nearly $4.05 a gallon in the U.S. on Sunday, according to motor club federation AAA. That’s about 8 cents lower than a week ago, but far higher than $2.98 before the war.
A tanker sits anchored in the Strait of Hormuz off the coast of Qeshm Island, Iran, Saturday, April 18, 2026. (AP Photo/Asghar Besharati)
The sun rises behind tankers anchored in the Strait of Hormuz off the coast of Qeshm Island, Iran, Saturday, April 18, 2026. (AP Photo/Asghar Besharati)
Tankers and bulk carriers anchored in the Strait of Hormuz, Saturday, April 18, 2026. (AP Photo)
LONDON (AP) — England was bossing Pakistan by an imposing 261 runs after two days of the Lord's test on Friday.
The host side was 81-3 in its second innings when bad light stopped play and in total command after routing a depleted Pakistan for 110 in the afternoon.
Pakistan medium-pacers Khurram Shahzad and Mohammad Ali did well to prise out Ben Duckett, Jordan Cox and Joe Root in the last session but they were bowling in damage limitation mode.
Their batters' failure conceded an intimidating 180-run lead to England on the first innings. Pakistan hasn't totaled 180 in the series yet and was without opening batter Imam-ul-Haq, who suffered a left calf strain while fielding early Thursday and won't reappear.
England won the first test in Leeds by an innings last week and may yet repeat the three-day feat and clinch the three-match series.
England's four seamers feasted on a Pakistan batting order that wasn't compensated by the return of captain Babar Azam.
Ollie Robinson took 4-11 from 13 overs, including six maidens. Jofra Archer had 3-26 from 11.2 and the fastest new-ball spell of his career, Josh Tongue claimed two wickets and Gus Atkinson was luckless.
Pakistan was blown away in 37.2 overs, and the bowlers were back in harness just over four hours after finishing England's first innings at 290 at noon.
The only resistance when Pakistan batted came from novice opener Azan Awais.
Embarrassingly out to the first ball of the series in Leeds, Awais dug in for 35 overs at Lord's. He debuted in May with a century in Bangladesh and was four runs shy of his third half-century. Awais faced 102 balls to score 46.
His innings was remarkable considering the next best runs in Pakistan's scoreboard was 20 extras.
Awais was dropped on 8 off Atkinson and overturned being given out on 43. He was caught on the boundary after top-edging a pull at Robinson.
Robinson was heading toward a third player-of-the-match performance in three tests.
He came to the fore after lunch, pinning Saud Shakeel and Mohammed Rizwan to expose the tail. Robinson added Shahzad and Awais but couldn't grab another Lord's five-for.
Archer averaged 90.7 mph (146 kph) before lunch, topping at 95 mph (153 kph) but could nick off only Shan Masood, who moved up to open as Imam's replacement. Archer took out two tailenders at the end.
Tongue bagged Pakistan's most in-form batter, Abdullah Shafique, right on lunch. Shafique tried driving Tongue on 5 and was caught behind after England reviewed.
Tongue also got Babar straight after lunch. Coming back from a finger injury that made him miss the first test, Babar hit a couple of boundaries through the covers then edged Tongue to third slip on 8.
Tongue had a good day before he bowled. He earned a career-best batting score of 30 not out in the morning.
He and Atkinson resumed England's first innings on 248-9 and their 10th-wicket partnership added a valuable 47 runs, 42 of them on Friday to retake the momentum from Pakistan.
Pakistan medium-pacer Mohammad Abbas, on four wickets, had a chance for five. But it was a tough, awkward chance dropped against Atkinson in his follow through.
Atkinson fell to spinner Ali Usman on 45, stopping England at 290 in 66.4 overs.
In their second bat, Duckett gave his wicket away to Shahzad in the second over and Jordan Cox was pinned on the back pad by Shahzad in the third.
Root reviewed being dismissed by Ali on 24 but it was plumb, and he was out lbw for the ninth time in his last 12 test innings.
Still batting at stumps were the streaky but determined Emilio Gay on 30 and Harry Brook on 7.
See AP’s full cricket coverage here
Pakistan's Khurram Shahzad bowls a delivery on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
England's Jofra Archer bowls a delivery on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
Pakistan's Mohammad Rizwan is out lbw on the bowling of England's Ollie Robinson, right, on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
England's Gus Atkinson bats on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
England's Jofra Archer celebrates the wicket of Pakistan's Shan Masood on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
England's Jofra Archer, right, celebrates with teammates the wicket of Pakistan's Shan Masood on day two of the second cricket test match between England and Pakistan in London, Friday, Aug. 28, 2026. (AP Photo/Dave Shopland)
