Brent Rises for 4th Session

2026-07-22 11:37 By Agna Gabriel 1 min. read

Brent Crude oil surged 4% to above $94 per barrel on Wednesday, the highest since June 8, as escalating tensions between the US and Iran increased concerns about global energy supply disruptions.

The rise followed the 11th consecutive night of US strikes targeting Iranian military facilities and efforts to prevent threats to commercial shipping through the Strait of Hormuz.

US Secretary of State Marco Rubio said Washington remains open to a diplomatic solution but accused Iran of failing to honor previous commitments.

He emphasized that any future agreement must guarantee freedom of navigation through the Strait of Hormuz and prevent Iran from developing nuclear weapons or supporting militant groups.

Also, threats from Yemen’s Houthi rebels against shipping routes in the Red Sea increased fears of further disruptions to international oil trade.

On top of that, attacks on the Caspian Pipeline Consortium terminal in the Black Sea added pressure on global energy markets.



News Stream
Brent Rises for 4th Session
Brent Crude oil surged 4% to above $94 per barrel on Wednesday, the highest since June 8, as escalating tensions between the US and Iran increased concerns about global energy supply disruptions. The rise followed the 11th consecutive night of US strikes targeting Iranian military facilities and efforts to prevent threats to commercial shipping through the Strait of Hormuz. US Secretary of State Marco Rubio said Washington remains open to a diplomatic solution but accused Iran of failing to honor previous commitments. He emphasized that any future agreement must guarantee freedom of navigation through the Strait of Hormuz and prevent Iran from developing nuclear weapons or supporting militant groups. Also, threats from Yemen’s Houthi rebels against shipping routes in the Red Sea increased fears of further disruptions to international oil trade. On top of that, attacks on the Caspian Pipeline Consortium terminal in the Black Sea added pressure on global energy markets.
2026-07-22
Brent Extends Gains to 7-Week High
Brent crude oil surged more than 4% to a seven-week high of $95 per barrel on Wednesday, extending gains for a fourth consecutive session as escalating geopolitical tensions fueled concerns over global supply. President Donald Trump dismissed the prospect of near-term negotiations with Iran and warned of broader military action, including possible strikes on the suspected nuclear facility at Pickaxe Mountain. He also pledged retaliation if Iran-backed Houthi rebels in Yemen disrupted shipping in the Red Sea. Meanwhile, the US military carried out an 11th consecutive day of strikes against Iran, saying the operations aim to reduce Tehran’s ability to threaten shipping through the Strait of Hormuz, which remains open. Supply concerns also spread beyond the Middle East after renewed attacks on the Caspian Pipeline Consortium terminal on Russia’s Black Sea coast, a key export route for Kazakh crude.
2026-07-22
Brent Rallies Further on Global Supply Risks
Brent rose above $93 per barrel on Wednesday, hitting almost six-week highs as supply risks intensified across several major export routes even beyond the Middle East. President Donald Trump dismissed the likelihood of imminent talks with Iran while warning of additional strikes and pledging retaliation if Tehran-backed Houthi rebels in Yemen disrupted shipping through the Red Sea. The Red Sea has become a vital export corridor for Saudi Arabia during the conflict, enabling the kingdom to reroute part of its crude exports through pipelines and reduce reliance on the Strait of Hormuz. Meanwhile, a Kuwaiti tanker carrying oil products was struck in Hormuz, underscoring persistent threats to maritime traffic. Outside the region, traders are also monitoring a series of attacks on the Caspian Pipeline Consortium terminal along Russia’s Black Sea coast, a key export hub for most of Kazakhstan’s crude.
2026-07-21