# Middle East strikes and shrinking US crude stocks send oil prices up

> Oil rose about 7% on Wednesday as airstrikes resumed in the Middle East and US crude inventories fell to a multi-year low. Brent traded near $90.42 and WTI near $84.52 after US and Saudi strikes on Iran-backed groups in Iraq.

- Date: 2026-07-29 · published 2026-07-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A sharp crude rally lifts energy and freight costs and supports biofuel-linked demand for soybean oil and corn.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-10-03 | [Crude oil prices today: WTI rises as Biden comments on Middle East risk](https://feedsoft.ai/events/10027-crude-oil-prices-today-wti-rises-as-biden-comments-on-middle-east-risk.md) | +3.3% | -2.0% |
| BRENT | 2026-07-29 | [Oil jumps 7% on escalating Middle East airstrikes](https://feedsoft.ai/events/18523-oil-jumps-7-on-escalating-middle-east-airstrikes.md) | -2.3% | +4.3% |
| BRENT | 2019-06-20 | [Middle East Clashes Send Oil Sharply Higher](https://feedsoft.ai/events/12316-middle-east-clashes-send-oil-sharply-higher.md) | +7.0% | +2.1% |
| BRENT | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +10.8% | +22.9% |
| BRENT | 2018-07-26 | [Factbox: Risks to Middle East oil and gas shipping routes](https://feedsoft.ai/events/63929-factbox-risks-to-middle-east-oil-and-gas-shipping-routes.md) | -0.7% | +0.1% |
| WTI | 2024-10-03 | [Crude oil prices today: WTI rises as Biden comments on Middle East risk](https://feedsoft.ai/events/10027-crude-oil-prices-today-wti-rises-as-biden-comments-on-middle-east-risk.md) | +4.4% | -2.4% |
| WTI | 2026-07-29 | [Oil jumps 7% on escalating Middle East airstrikes](https://feedsoft.ai/events/18523-oil-jumps-7-on-escalating-middle-east-airstrikes.md) | -4.4% | +3.8% |
| WTI | 2019-06-20 | [Middle East Clashes Send Oil Sharply Higher](https://feedsoft.ai/events/12316-middle-east-clashes-send-oil-sharply-higher.md) | +10.2% | +2.6% |

## Sources

- bairdmaritime.com: https://www.bairdmaritime.com/shipping/tankers/middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.