Oil Price Today (July 29): Crude oil jumps 5% as US intercepts Iranian 'surprise attack’. Big rally ahead?
- Posted on July 29, 2026
- By Business News Today
- 3 Views
- 1 min read
Global energy markets experienced significant volatility as geopolitical tensions escalated in the Middle East. Brent crude surged 5% to $88 per barrel, rebounding from a substantial three-day downturn. West Texas Intermediate crude also gained ground, advancing to $83. The rally reflects investor concerns over regional security developments and their potential impact on oil supply stability. Market analysts are examining whether this upward momentum signals a sustained recovery or remains subject to further fluctuations driven by international political developments.
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