21:49 - 29.07.2026

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July 29, Fineko/abc.az. Global benchmark Brent crude surged nearly 7% to cross $90 per barrel following statement by US President Donald Trump warning of forceful military retaliation against Iran.

Renewed military friction in the Middle East and rising threats to vital regional maritime routes triggered a sharp rally in energy markets. Speaking to Fox News, Trump declared that Washington would launch heavy strikes against Iran in response to missile attacks targeting US forces in Jordan.

Key Highlights:

• Maritime Shipping Disruptions: Reports of Houthi proposals to levy transit fees on Red Sea shipping, alongside potential Iranian moves to impose similar tolls in the Strait of Hormuz, have intensified global supply security concerns.

• Joint US-Saudi Military Action: US Central Command (CENTCOM) and the Saudi Arabian Armed Forces executed joint precision airstrikes against Iran-aligned militia targets in Iraq that had launched drone attacks against Saudi energy infrastructure.