Oil prices surpassed $100 per barrel on Thursday, July 24, 2026, due to renewed fighting and military strikes in the Middle East. This situation has resulted in disruptions to global oil supplies. Consumers have already been feeling financial pressure since the onset of the Iran war, and further increases in oil prices may impact costs for gas, groceries, and back-to-school items.
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Oil Prices Exceed $100 Per Barrel Amid Ongoing Conflict
On July 24, 2026, oil prices exceeded $100 per barrel as military conflicts in the Middle East disrupted global oil supplies. Consumers are expected to experience increased costs for various goods as a result of these rising oil prices.
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Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface
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Oil Prices Exceed $100 Per Barrel Amid Ongoing Conflict