Jul 22, 2026 05:55 AM IST Oil prices rise slightly after US announces new round of strikes on Iran Oil prices inched higher in early trading on Wednesday as fears of further supply disruptions intensified after US forces said it began striking Iranian military targets for the 11th straight night and Kuwait reported attacks by Iranian drones.
Brent crude futures rose 0.55%, or 50 cents, to $91.51 after markets opened on Wednesday, while US West Texas Intermediate crude climbed 0.36%, or 30 cents, to $84.64 in low volume trading.
This comes after oil settled at a five-week high on Tuesday after US forces struck targets in southern and western Iran, while Iran attacked US facilities in Bahrain, Kuwait and Jordan.
The US military said it began its latest strikes on Iran late on Tuesday in the United States, or early Wednesday in Iran.
The US attacks came a short while after the Kuwaiti army said its air defences were intercepting Iranian drones on Wednesday.
