World · 29 July 2026
Oil costs rise $3 a barrel after American and Saudi strikes in Iraq
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Brent crude, a major global oil benchmark, reached $87.24 on Wednesday after forces intercepted Iranian ballistic missiles. Washington and Riyadh directed joint operations against Iran-supported militias across Iraq, holding them responsible for earlier drone strikes on Saudi infrastructure. On Tuesday, only five cargo vessels navigated the Strait of Hormuz, keeping traffic unusually low through the essential waterway.
Reported by Reuters · How we write briefs