Bullish
Brent Crude Oil surges 7.3% to $88.09 amid escalating US-Iran tensions
Brent Crude Oil prices rose by 7.3% to $88.09 per barrel on July 29, 2026, driven by escalating tensions between the United States and Iran. The U.S. and Saudi Arabia conducted airstrikes on Iranian-backed factions in Iraq, intensifying concerns over potential disruptions to global oil supplies. Additionally, a missile attack targeting U.S. forces in the region further heightened market apprehension.
Key points
- U.S. and Saudi airstrikes on Iranian-backed factions in Iraq
- Missile attack targeting U.S. forces in the Middle East
- U.S. crude inventories decline, contributing to price increase
Sources
AI-generated from public news sources. Not financial advice.
