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)
WESTFIELD, Ind.--(BUSINESS WIRE)--Jul 14, 2026--
Bomb Pop, the iconic red, white and blue frozen treat, will distribute 100,000 free samples at Droplight Grand Park Sports Campus to cool down youth sports players during the July 17–26 Westfield, Indiana, event.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260713568148/en/
In addition to 100,000 free samples, Bomb Pop will host a branded lounge, a multi-sport challenge, scorecards for players to track their points, seating, and a custom Bomb Pop Sports Trading Card photo experience.
Droplight Grand Park Sports Campus is a major youth sports destination in Westfield, Indiana, drawing more than 5.5 million visitors annually. During the activation’s final weekend, the campus will also host the NFL FLAG Championships Presented by Toyota from July 23–26, creating a high-traffic summer sports moment at the venue.
“Bomb Pop has always been tied to the best parts of summer, from backyard barbecues and ballgames to hot days outside,” said Allie Green, Senior Brand Manager, Bomb Pop. “Bomb Pop will bring the spirit of summer to peak tournament season, when families are spending long days outside and looking for an easy, refreshing frozen treat between games.”
Bomb Pop Classic Red, White & Blue features cherry, lime, and blue raspberry flavors in the iconic rocket-shaped pop. It is made with colors from natural sources while keeping the familiar taste and appearance families know.
What Is Bomb Pop Doing for Youth Sports Players and Their Families at Droplight Grand Park Sports Campus?
Bomb Pop is hosting a free sampling activation and branded Chill Zone at Droplight Grand Park Sports Campus in Westfield, Indiana, from July 17–26. The activation includes 100,000 free Bomb Pop samples, seating, a multi-sport Shoot Out challenge, scorecards for players to track their points, and a custom Bomb Pop Sports Trading Card photo experience.
Why Did Bomb Pop Select the Droplight Grand Park Sports Campus for its Free Distribution of its Classic Red, White & Blue Treat?
Droplight Grand Park Sports Campus is a major youth sports destination that draws more than 5.5 million visitors annually. Its scale, tournament schedule, and high-traffic summer sports environment make it a natural setting for Bomb Pop to show up during peak tournament season, when families and athletes are spending long days outside between games.
What Else Will Bomb Pop Offer for Youth Sports Players and their Families at the Droplight Grand Sports Campus?
Visitors can cool down with a free Bomb Pop sample, take a break in the branded Chill Zone, and participate in a multi-sport Shoot Out challenge where players kick, throw, shoot or volley toward targets worth different point values. Players can track their scores on a scorecard and create a custom Bomb Pop Sports Trading Card photo keepsake from their tournament weekend.
What Frozen Treat Cools Down Youth Players and their Families at Ballgames, Tournament Weekends, and Hot Days Outside?
Bomb Pop Classic Red, White & Blue is made for summer sports moments, from sideline breaks and tournament weekends to post-game cool-downs and long afternoons outside. Each pop combines cherry, lime, and blue raspberry flavors in the iconic red, white, and blue shape families recognize.
Why Has Bomb Pop Been a Summer Freezer Staple for 71 years?
Bomb Pop Classic Red, White & Blue combines cherry, lime, and blue raspberry flavors in one iconic frozen treat, making it an easy option for the summer moments families stock up for, from July 4th celebrations and backyard barbecues to cookouts, ballgames, and hot afternoons outside. It is made with colors from natural sources while maintaining the familiar taste and appearance families expect.
Where Can You Find and Buy Bomb Pop Today?
Bomb Pop is available at major retailers nationwide, including Walmart, Target, Walgreens, Amazon, Dollar General, Safeway, Giant Food, Food Lion, Publix, and other retailers.
About Bomb Pop ®
Bomb Pop ® has been delivering colorful frozen fun for generations. Known for its iconic shape, bold flavors, and connection to summertime traditions, Bomb Pop continues to create memorable moments for families across the country. Bomb Pop is part of Wells Enterprises, Inc., the largest privately held ice cream and frozen treat manufacturer in the United States.
Bomb Pop Classic Red, White & Blue features cherry, lime, and blue raspberry flavors in the iconic rocket-shaped pop made with colors from natural sources
