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U.S.Reported

Oil prices surge after Trump vows retaliation for Iranian attack

Global oil prices climbed 7% on Wednesday, crossing above $90 a barrel. Global oil prices surged on Wednesday after an Iranian attack elicited a vow of reprisal from President Donald Trump, ending a brief calm that had renewed hope among investors of a negotiated resolution. A benchmark index for worldwide crude prices climbed more than 7% on Wednesday, crossing above $90 a barrel. Major stock indexes, meanwhile, tumbled.

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Scoop News DeskPublished Wednesday, July 29, 2026 at 5:21 PM UTCUpdated Thursday, July 30, 2026 at 4:47 PM UTC

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The average price of a gallon of gas currently stands at $4.09, according to AAA , marking a 37% jump since war broke out in late February.

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Thursday, July 30, 2026 at 4:47 PM UTC
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