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Iran's Missile Strikes Send Oil Prices Soaring Amid Escalating Middle East Tensions

Guavy AI Editorial Team Published July 29, 2026

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Oil

A series of missile attacks by Iran on US forces in the Middle East has sent oil prices surging, reaching $84.58 a barrel for Brent crude.

The escalation comes after several days of relative calm and has raised concerns about a return to all-out war in the region.

The US partnered with Saudi Arabia to strike Tehran-backed militias in Iraq, killing at least 20 fighters and six Iranian advisers.

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