LONDON — World oil prices climbed sharply on July 29, rising about 5% in volatile trading after fresh strikes in the Middle East revived fears that crude supplies could be disrupted.
The jump came as traders reacted quickly to the latest violence in a region that plays a central role in global energy flows. Any sign of widening conflict tends to unsettle oil markets, where prices often move fast on concern that shipping routes, production sites or export facilities could be affected, according to Hurriyet Daily News.
Brent North Sea crude, the international benchmark, rose 5.3% to $88.57 a barrel. In the United States, West Texas Intermediate, the main oil contract, gained 5% to $83.25 a barrel.
The market’s rebound reflected growing anxiety that the unrest could put fresh pressure on already fragile supply conditions. Oil prices have remained sensitive to geopolitical tensions, with traders watching closely for any escalation that could tighten supplies and drive costs even higher.
For consumers and businesses alike, the latest surge is another reminder of how quickly conflict in the Middle East can ripple through global markets, lifting energy prices and adding fresh uncertainty to the economic outlook.
