Brent Crude Oil Surges Past $95 for First Time in Six Weeks Amid Iran Standoff

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2026-07-22 16:49:01

Brent crude oil prices briefly touched $95 on Wednesday, a six-week high, as geopolitical tensions in the Middle East escalate. U.S. Secretary of State Marco Rubio warned that Iran is not serious about a diplomatic deal, echoing President Trump's stark caution that the U.S. has ample options—including a potential 10% market correction—should Tehran fail to cooperate. Speaking at the ASEAN Foreign Ministers' meeting in the Philippines, Rubio emphasized Washington's willingness to negotiate but underscored the lack of Iranian seriousness, as the U.S. military conducted its eleventh operation in the region.

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