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Line chart showing Brent crude oil prices from February to July 2026, spiking during the war then partially unwinding.

Brent crude closed the week at $76.01, up about 5 percent, after Iran struck Bahrain, Kuwait, Qatar and Jordan in a single day, the widest simultaneous escalation since the war began in February. The move is a fraction of the initial shock, when Brent surged from roughly $70 before the war to nearly $128 by early April, then spent months unwinding as tanker traffic resumed following a June agreement between Washington and Tehran. Markets are treating this second escalation very differently than the first.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Charts and data on this site are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Each chart reflects the source and period indicated on it and may not represent current market conditions.

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