On July 29, 2026, oil prices increased as tensions between the United States and Iran escalated. By late Wednesday afternoon, Brent crude, an international benchmark, was trading at approximately $91 per barrel, rising from around $83 earlier in the week. This price remains below the highs observed before the ceasefire, which reached up to $101 last week.
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Oil Prices Increase Amid Rising US-Iran Tensions
Oil prices rose on July 29, 2026, amid escalating tensions between the US and Iran. Brent crude was trading at about $91 per barrel, up from $83 earlier in the week, but still below the previous week's highs of $101.
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Oil prices jump up as US-Iran tensions escalate
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Oil Prices Increase Amid Rising US-Iran Tensions