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Oil Prices Jump Over 3% After Iran Missile Attack

GreenWatch Desk: Energy 2026-07-29, 10:23am

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Representational image



Global oil prices surged by more than 3% in early Asian trading on Wednesday after the US military said it had intercepted multiple missiles launched by Iran, raising fresh concerns over escalating tensions in the Middle East.

At around 0015 GMT, US benchmark West Texas Intermediate (WTI) crude rose 3.67% to $82.17 a barrel.

Meanwhile, North Sea Brent crude, the international benchmark, climbed 3.39% to $86.94 a barrel.

The sharp rise in oil prices came after reports of the missile launches heightened fears of potential disruptions to global energy supplies amid growing regional instability.