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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
In brief

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.

Summary auto-generated by AI from the original publisher's content. Editorial standards.

Oil Price Today (July 29): Crude oil jumps 5% as US intercepts Iranian 'surprise attack’. Big rally ahead?
Oil Price Today (July 29): Crude oil jumps 5% as US intercepts Iranian 'surprise attack’. Big rally ahead?

Brent crude jumped 5% to around $88 a barrel, recovering after its biggest three-day decline since April 2020. The U.S. West Texas Intermediate (WTI) crude advanced $.67, or .47%, to $83.
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Business News Today

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