Archive · 22 Jul 2026
Crude oil prices rise amid US-Iran war escalation
Oil prices went up because the US and Iran are fighting.
The US hit Iranian military targets, and Iran attacked US facilities in other countries.
This made people worry that oil supplies might get disrupted.
Also, there are threats to block ships carrying Saudi oil.
The cost of the US military campaign in Iran is now $37.5 billion.
Meanwhile, some data shows that US oil inventories went up, but gasoline stockpiles went down.
Crude oil prices rose due to concerns over supply disruptions from US-Iran military strikes.
Brent crude futures gained 0.55% to $91.51 per barrel, while US WTI crude rose 0.36% to $84.64 per barrel.
US military strikes on Iranian targets and Iranian attacks on US facilities in Bahrain, Kuwait, and Jordan escalated tensions.
Yemen's Houthi rebels threatened to target ships transporting Saudi crude through the Bab el-Mandeb Strait.
US crude oil and distillate inventories increased last week, while gasoline stockpiles declined.
- Who
- US and Iran
- What
- Escalating military strikes and supply disruption concerns
- When
- 22 July
- Where
- Middle East, particularly Iran, Kuwait, Bahrain, Jordan, and Yemen
- Why
- Concerns over potential disruptions to global energy supplies due to military strikes and threats to key oil export routes.
Supply Disruption Concerns
Market Inventory Data
Impact of Military Strikes
Supply Disruption Concerns
Military strikes between the US and Iran have intensified concerns over potential disruptions to global energy supplies, driving up oil prices.
Market Inventory Data
Market inventory data shows mixed results, with US crude oil and distillate inventories increasing while gasoline stockpiles declined.
- Brent Crude Price
- $91.51 per barrel
- US WTI Crude Price
- $84.64 per barrel
- US Military Campaign Cost
- $37.5 billion
- Date of Latest Strikes
- 22 July
- Key Export Route
- Bab el-Mandeb Strait