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Brent hits $90.24 per barrel, up 3.87% daily, 26.09% month‑on‑month and 29.52% YoY, while global CPI data show mixed inflation trends – see the numbers that
Brent crude oil settled at $90.24 a barrel on July 31, 2026, a 3.87% jump from the previous day and a 26.09% rise over the month, putting the benchmark up 29.52% versus the same date last year【1】. The surge comes amid heightened geopolitical risk and a backdrop of divergent inflation readings across major economies.
| At a glance | |
|---|---|
| Price | $90.24 per barrel |
| Daily change | +3.87% |
| Monthly change | +26.09% |
| YoY change | +29.52% |
The July price rally reflects a confluence of supply‑side pressures. Iran reported attacks on two tankers in the Strait of Hormuz, while the United States and Iran have renewed hostilities, and Houthi strikes continue in the Red Sea. Parallel concerns include Saudi strikes on Iran‑aligned groups and attacks near Russia’s Black Sea export terminals, which threaten Kazakhstan’s oil flow to Europe. Falling U.S. crude inventories have added further upward pressure, reinforcing the market’s risk‑off bias toward higher prices【1】.
Across the world, inflation readings are mixed. The United States CPI rose 3.4% year‑on‑year, up 0.2 percentage points from the prior month, while Germany’s CPI slipped to 2.2% (down 0.4pp) and the United Kingdom’s CPI fell to 2.8% (down 0.3pp). Japan and France posted CPI declines of 2.7% (‑0.2pp) and 2.1% (‑0.3pp) respectively. China’s CPI edged higher to 0.4% (+0.3pp) and India’s CPI eased to 4.9% (‑0.1pp). The Eurozone HICP stood at 2.3% (‑0.4pp)【3】. These figures illustrate divergent price pressures that can influence demand for energy commodities, including oil.
The Brent rally underscores how geopolitical risk and inventory dynamics can outweigh mixed inflation trends, leaving markets to watch both supply shocks and upcoming macro data for clues on the oil market’s near‑term direction.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Aug 1, 2026 · How we report
The federal funds rate remains at a range of 3.5% to 3.75%.
The Federal Open Market Committee voted 9‑3 to keep the benchmark rate unchanged.
The Fed cited the personal consumption expenditures (PCE) index, which was up 3.7% year‑over‑year in June.
The 30‑year Treasury yield rose to 5.21%, the highest level since 2007, indicating market concerns about inflation.
Mortgage rates, which track the 10‑year Treasury, increased to about 6.66%, suggesting higher borrowing costs despite the unchanged Fed rate.