On July 29, market attention turned to oil after U.S. President Donald Trump made a hardline statement toward Iran and Israel’s prime minister traveled to the United States, reviving expectations that tensions between the U.S. and Iran could escalate again. According to Bitget market data cited by BlockBeats, the move pushed WTI crude sharply higher during the session.
WTI crude at one point extended its intraday gain to 7.00% and was last quoted at $83.7 a barrel. Brent crude was also up 6.5%, trading at $87.3 a barrel. The report tied the jump in both benchmarks directly to the renewed geopolitical uncertainty surrounding the U.S. and Iran.
The update was published by BlockBeats as a short market note and focused on the immediate price reaction in oil.
BlockBeats reported on July 29 that Donald Trump made a hardline statement toward Iran on the day, while Israel’s prime minister traveled to the United States, prompting market expectations that uncertainty over a renewed U.S.-Iran conflict had resurfaced.
According to Bitget market data cited in the report, WTI crude’s intraday gain at one point widened to 7.00%, with the contract quoted at $83.7 per barrel. Brent crude was up 6.5% at $87.3 per barrel.
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