Shafaqna English– On Wednesday(29 Jul 2026), the oil market witnessed a price increase of more than $3 per barrel. This rise followed coordinated U.S.-Saudi military operations in Iraq, as well as the interception and neutralization of Iranian ballistic missiles that had been fired at American forces in the region. Simultaneously, data indicated a drawdown in U.S. crude oil stockpiles.
In futures trading, Brent crude rose by $3.30 (a 3.9% increase) to $87.39 per barrel, while the U.S. benchmark, West Texas Intermediate (WTI), jumped by $3.05 (a 3.8% gain) to close at $82.31 per barrel.
Source: Reuters