Oil prices climb to six-week high as hopes of de-escalation in Iran diminish

🇺🇸 MarketWatch (US) — 2026-07-22

Oil prices in the United States reached a six-week high as hopes for de-escalation of tensions in Iran faded following continued attacks. West Texas Intermediate and Brent crude front-month contracts rose about 4%, reflecting market concerns over regional instability.

West Texas Intermediate and Brent crude’s front-month contracts rose almost 4% on Wednesday after an 11th night of attacks in Iran.

World Conflict Markets Energy oil prices West Texas Intermediate Brent crude Iran market energy prices Middle East tension

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Oil prices climb to six-week high as hopes of de-escalation in Iran diminish

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