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Oil prices rise after U.S. launches heavy strikes on Iran amid escalating tensions

Market News
30 Jul 2026, 12:14 WIB
CNBC
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Bearish
Oil prices rise after U.S. launches heavy strikes on Iran amid escalating tensions

Oil prices increased following a significant U.S. military strike on Iran in retaliation for Iranian missile attacks on American forces. Brent crude rose 1.5% to $92.10 per barrel, and U.S. West Texas Intermediate gained 0.9% to $85.23 per barrel. The U.S. targeted multiple Iranian military sites, signaling a sharp escalation after a brief pause in conflict. Traders now watch the upcoming OPEC+ meeting, where a modest supply increase is expected, amid ongoing geopolitical uncertainty affecting oil markets.

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