# Oil jumps 7% on escalating Middle East airstrikes

> Oil jumped about 7% on Wednesday as US and Saudi strikes hit Iran-backed groups in Iraq and Iran fired on ships and US bases. Brent rose to about $90.32 and WTI to $84.41 after Trump promised retaliatory strikes and Tehran rejected Oman's Hormuz management proposal.

- Date: 2026-07-29 · published 2026-07-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/18523-oil-jumps-7-on-escalating-middle-east-airstrikes
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Renewed military escalation and Hormuz disruption sharply raise crude and energy costs, feeding through to diesel, freight and biofuel-linked vegetable oil prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-10-31 | [Oil Rises On Middle East Conflict Escalation Fears](https://feedsoft.ai/events/28028-oil-rises-on-middle-east-conflict-escalation-fears.md) | +3.9% | +0.7% |
| BRENT | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -2.3% | +4.3% |
| BRENT | 2026-03-25 | [Oil settles up nearly 6% as investors fear further Middle East escalation \| Reuters](https://feedsoft.ai/events/20343-oil-settles-up-nearly-6-as-investors-fear-further-middle-east-escalation-reuters.md) | +15.0% | +1.0% |
| BRENT | 2026-09-07 | [Opec+ holds oil output steady as prices continue to rise amid Middle East escalation \| Upstream](https://feedsoft.ai/events/17384-opec-holds-oil-output-steady-as-prices-continue-to-rise-amid-middle-east.md) | +12.0% | +18.6% |
| BRENT | 2026-03-02 | [Oil jumps as Iran conflict escalates, disrupts shipping](https://feedsoft.ai/events/8005-oil-jumps-as-iran-conflict-escalates-disrupts-shipping.md) | +31.0% | +62.6% |
| WTI | 2024-10-31 | [Oil Rises On Middle East Conflict Escalation Fears](https://feedsoft.ai/events/28028-oil-rises-on-middle-east-conflict-escalation-fears.md) | +4.5% | +0.2% |
| WTI | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -4.4% | +3.8% |
| WTI | 2024-10-30 | [Crude Oil Jumps on Middle East Tensions and an Unexpected Draw in EIA Inventories](https://feedsoft.ai/events/28034-crude-oil-jumps-on-middle-east-tensions-and-an-unexpected-draw-in-eia.md) | +7.1% | +2.3% |

## Sources

- rte.ie: https://www.rte.ie/news/business/2026/0729/1585574-world-oil-prices/

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