Oil Markets on Edge: Brent Crude Rises After US Continues Military Action Against Iran
Crude Oil Price: Tensions between the US and Iran are once again deepening, directly impacting the global oil market. Crude oil prices have surged after the US launched attacks on Iran for the second consecutive day.
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“Oil Markets on Edge: Brent Crude Rises After US Continues Military Action Against Iran”
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9 Jul 2026
The tension between the two countries is escalating, and now the global oil price is affected. Oil prices went up because the US continued its attack against Iran for the second day in a row. These latest actions from the military side have raised concerns about the disruption of oil supply around the globe.
Brent crude traded Thursday at $78.68 per barrel, an increase of 0.95% having hit a maximum of $79.15 per barrel. WTI US crude gained 74 cents, or 1.01%, trading at $74.26 per barrel.
In his remarks during the NATO summit in Turkey, the US President Donald Trump said that the ceasefire with Iran was "over." These remarks have raised concerns about the rising tensions in the Middle East and contributed to a surge in oil prices.
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