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Line chart comparing Brent and WTI crude oil prices through July's four-leg rally to $85.47.

Brent and WTI crude both surged in July, with WTI ending the month at $85.47, up 23.0%, after round-tripping from a five-month low near $68.74. The path had four distinct legs: an early-month low, a mid-month spike, a July 22 to 23 rally that briefly pushed Brent above $100, and a July 29 jump tied to a strike on Saudi oil infrastructure. The swings tracked an escalating conflict between the United States and Iran that disrupted shipping through the Strait of Hormuz.

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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Line chart of gold futures, the S&P/TSX Composite and Brent crude, each rebased to 100 at the July 31 close.

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