NEW YORK, 30th July, 2026 (WAM) -- Global oil prices surged by around 7 percent on Wednesday, driven by developments in the Middle East that heightened concerns over tightening supplies.
Brent crude futures rose by US$6.16, or 7.33 percent, to settle at US$90.25 a barrel. Meanwhile, US West Texas Intermediate crude gained US$5.40, or 6.81 percent, to reach US$84.65 a barrel.