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Brent crude tops $95 amid US strikes on Iran

financeJul 22, 2026691,354

U.S. Central Command said it struck targets in Iran, and Brent crude topped $94 a barrel after the announcement. Analysts warned that a widening Middle East war together with low global inventories threatened supplies and pushed prices higher. Rising fuel costs are already hitting economies in Asia, prompting the Philippines and other developing countries in the region to push to build strategic petroleum reserves to cushion against future shocks. The supply concern and prospect of further regional escalation are the proximate drivers behind the recent price jump.

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