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بوابة أخبار اليوم
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Global oil prices increase on July 29
Global oil prices rose today, Wednesday, July 29, 2026, by approximately 7%, recovering some of the losses from the past three sessions. This increase was driven by escalating geopolitical tensions in the Middle East. The surge followed joint airstrikes by the United States and Saudi Arabia targeting weapons warehouses in Iraq owned by Iran-backed factions, in response to attempted drone attacks on oil facilities in Saudi Arabia and the interception of Iranian rockets targeting American forces. Additionally, a decline in U.S. oil inventories supported the price gains, with Brent crude climbing to $90.50 per barrel and West Texas Intermediate reaching $85.24. These developments are part of ongoing efforts to resolve the crisis between the U.S. and Iran and its impact on global oil flows.
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