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Latest Oil Market News and Analysis for July 29

Bloomberg Markets Tuesday 28 July 2026, 22:01 UTC By Kanoko Matsuyama and Gabriel Levin 1 min read
Key Points

Oil Holds Three-Day Drop as Tensions in the Middle East Cool Oil held the bulk of a three-day decline on optimism that the US and Iran may be able to forge a diplomatic solution to end the war in the Middle East, with the conflict now in its sixth month. West Texas Intermediate rose above $80 a barrel after tumbling 14% over the past three sessions. Brent closed near $84 on Tuesday.

Oil Holds Three-Day Drop as Tensions in the Middle East Cool Oil held the bulk of a three-day decline on optimism that the US and Iran may be able to forge a diplomatic solution to end the war in the Middle East, with the conflict now in its sixth month. West Texas Intermediate rose above $80 a barrel after tumbling 14% over the past three sessions. Brent closed near $84 on Tuesday. In Washington, President Donald Trump met with Israeli Prime Minister Benjamin Netanyahu, as the US leader sought to avoid renewed bombing in Iran.
Latest Oil Market News (ORG) the Middle East Cool Oil (LOCATION) US (LOCATION) Iran (LOCATION) the Middle East (LOCATION) West Texas Intermediate (ORG) Brent (PERSON) Washington (LOCATION) Donald Trump (PERSON) Israeli (ORG) Benjamin Netanyahu (PERSON)
Originally published by Bloomberg Markets Read original →

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