### [2026-07-8](/feed/2026/07/8/index.md)

##### Economic impact of the 2026 Iran war
# Brent Crude and West Texas Intermediate oil prices increase by at least 5% amidst the escalation in the Iran war, rising to US$78.01 and $73.86, respectively. 




### Sources:

1. [CNBC](https://www.cnbc.com/2026/07/07/stock-market-today-live-updates.html)

### Related:

1. [Global oil prices fall to their lowest level since February 27, the day before the war started on February 28. Additionally, brent crude futures drop to US$73.50 a barrel. ](/feed/2026/06/24/global-oil-prices-fall-to-their-lowest-level-since-february-27-the-day-before-the-war-started-on-february-28-additiona.md) _Context: Brent Crude, Economic impact of the 2026 Iran war_
2. [Oil prices increase by nearly 8% on the announcement of the peace talks ending, with West Texas Intermediate rising to US$94.20 per barrel and Brent Crude to US$97.23 per barrel. ](/feed/2026/06/1/oil-prices-increase-by-nearly-8-on-the-announcement-of-the-peace-talks-ending-with-west-texas-intermediate-rising-to-u.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
3. [Oil prices rise amid fears of a prolonged war and the draining of world oil reserves, including West Texas Intermediate to US$102.76 per barrel and Brent Crude to US$112.89 per barrel. ](/feed/2026/05/18/oil-prices-rise-amid-fears-of-a-prolonged-war-and-the-draining-of-world-oil-reserves-including-west-texas-intermediate.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
4. [Oil prices, including Brent Crude and West Texas Intermediate, drop to less than US$90 per barrel, and the Dow Jones Industrial Average increases by over 1,000 points, following Iran's announcement of the reopening of the Strait of Hormuz. ](/feed/2026/04/17/oil-prices-including-brent-crude-and-west-texas-intermediate-drop-to-less-than-us-90-per-barrel-and-the-dow-jones-ind.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
5. [Oil prices decline, with West Texas Intermediate for May delivery falling 6.2% to US$92.94 per barrel and Brent Crude decreasing 3.77% to $95.61, amid expectations of reduced tensions in the Middle East. ](/feed/2026/04/14/oil-prices-decline-with-west-texas-intermediate-for-may-delivery-falling-62-to-us-9294-per-barrel-and-brent-crude-de.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
6. [Oil prices rebound amidst concerns about the ceasefire, with U.S. and Brent Crude oil back up to nearly US$100 per barrel. ](/feed/2026/04/9/oil-prices-rebound-amidst-concerns-about-the-ceasefire-with-us-and-brent-crude-oil-back-up-to-nearly-us-100-per-barre.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$_
7. [Oil prices plunge below US$95 and the Dow Jones Industrial Average surges past 1,000 after the ceasefire announcement. ](/feed/2026/04/8/oil-prices-plunge-below-us-95-and-the-dow-jones-industrial-average-surges-past-1000-after-the-ceasefire-announcement.md) _Context: Economic impact of the 2026 Iran war, US$_
8. [The American Automobile Association reports that the United States national average gas price has reached $4.02 a gallon, the highest since 2022 following Russia's invasion of Ukraine. ](/feed/2026/03/31/the-american-automobile-association-reports-that-the-united-states-national-average-gas-price-has-reached-402-a-gallon.md) _Context: Economic impact of the 2026 Iran war, US$_
9. [Brent crude oil surpasses US$110 per barrel after Iran's Islamic Revolutionary Guard Corps Navy turned away three container ships and declared the Strait of Hormuz closed. ](/feed/2026/03/27/brent-crude-oil-surpasses-us-110-per-barrel-after-iran-s-islamic-revolutionary-guard-corps-navy-turned-away-three-contai.md) _Context: Brent Crude, Economic impact of the 2026 Iran war_
10. [Brent crude futures fall 11%, trading just below US$100 a barrel for the first time in days, following the announcement by U.S. president Donald Trump about talks with Iran to end the war. ](/feed/2026/03/23/brent-crude-futures-fall-11-trading-just-below-us-100-a-barrel-for-the-first-time-in-days-following-the-announcement.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$_