Oil drilling rigs
Oil prices turned higher during trading today, July 30, as military attacks between the US and Iran escalated, with investors assessing the sustainability of oil supply flows. 
Prices rose sharply following threats by US President Donald Trump on Wednesday to launch fresh strikes against Iran in response to a missile attack that targeted a US base on Tuesday, Reuters reported.
Lin Ye, Vice President of Commodity Markets at Rystad Energy, said that Trump’s statements caused a rapid and immediate jump in prices, but the market quickly began to assess the prospects for de-escalation.
Rystad Energy estimates that around 13 million barrels per day of Middle Eastern oil are still reaching global markets, Reuters reported.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (September delivery)
92.58
1.84
2.00%
WTI (September delivery)
83.32
0.86
1.00%
*At 09:01 am Makkah time
Oil drilling rigs
Oil prices turned higher during trading today, July 30, as military attacks between the US and Iran escalated, with investors assessing the sustainability of oil supply flows.
Prices rose sharply following threats by US President Donald Trump on Wednesday to launch fresh strikes against Iran in response to a missile attack that targeted a US base on Tuesday, Reuters reported.
Lin Ye, Vice President of Commodity Markets at Rystad Energy, said that Trump’s statements caused a rapid and immediate jump in prices, but the market quickly began to assess the prospects for de-escalation.
Rystad Energy estimates that around 13 million barrels per day of Middle Eastern oil are still reaching global markets, Reuters reported.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (September delivery)
92.58
1.84
2.00%
WTI (September delivery)
83.32
0.86
1.00%
*At 09:01 am Makkah time
