# Oil prices settle more than 1% higher, log strongest month since March | Reuters

> Oil prices settled more than $1 higher on Friday, with Brent at $90.12 and WTI at $84.67, ending July with the biggest monthly gains since March. Brent rose 24% and WTI 21% in July as Iranian reports of tankers turned back in the Strait of Hormuz added to supply worries.

- Date: 2026-07-31 · published 2026-07-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/18519-oil-prices-settle-more-than-1-higher-log-strongest-month-since-march-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent Hormuz disruption keeps crude and energy costs elevated, raising diesel and natural gas input costs for feed production and freight, and supporting biofuel-linked vegetable oil values.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-08-31 | [Oil prices settle up more than $4 a barrel on renewed US-Iran fighting \| Reuters](https://feedsoft.ai/events/17635-oil-prices-settle-up-more-than-4-a-barrel-on-renewed-us-iran-fighting-reuters.md) | +10.8% | +22.9% |
| BRENT | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.7% | — |
| BRENT | 2026-03-03 | [Oil prices jump nearly 5%, settle at highest since January 2025 on Middle East conflict \| Reuters](https://feedsoft.ai/events/5229-oil-prices-jump-nearly-5-settle-at-highest-since-january-2025-on-middle-east.md) | +24.7% | +51.3% |
| BRENT | 2022-03-06 | [Oil price surges to highest since 2008 on delays in Iranian talks \| Reuters](https://feedsoft.ai/events/6283-oil-price-surges-to-highest-since-2008-on-delays-in-iranian-talks-reuters.md) | -4.6% | -13.0% |
| BRENT | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +16.6% | +35.6% |
| WTI | 2026-08-31 | [Oil prices settle up more than $4 a barrel on renewed US-Iran fighting \| Reuters](https://feedsoft.ai/events/17635-oil-prices-settle-up-more-than-4-a-barrel-on-renewed-us-iran-fighting-reuters.md) | +9.6% | +4.0% |
| WTI | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.0% | — |
| WTI | 2026-03-03 | [Oil prices jump nearly 5%, settle at highest since January 2025 on Middle East conflict \| Reuters](https://feedsoft.ai/events/5229-oil-prices-jump-nearly-5-settle-at-highest-since-january-2025-on-middle-east.md) | +33.1% | +46.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-falls-more-than-1-greater-flows-despite-us-iran-war-2026-07-31/

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