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Wednesday, July 29, 2026

US launches massive airstrikes across Iran But Oil prices fall despite Iran-US conflict

 


The US Central Command has launched a new round of airstrikes on various military and strategic sites in Iran. The US military said the strikes, carried out in response to an Iranian missile attack attempt on Wednesday (July 29), hit dozens of targets, including Islamic Revolutionary Guard Corps (IRGC)-related command centers, missile and drone installations, coastal defense systems and maritime capabilities.

Iranian state and semi-state media reported that explosions were heard in Bushehr, Hormozgan, Khuzestan and Fars provinces after the attack. Explosions were also reported near Iran's only nuclear power plant in Bushehr, but it was not clear whether the plant was damaged.

Tasnim and IRIB reported that attacks were also carried out in Bandar Abbas, Abadan, Ahvaz, Kazroun and the islands of Qeshm, Kish and Abu Musa. A residential building on Qeshm Island was damaged, leaving two people trapped under the rubble. Power supply was also disrupted in some areas of Ahvaz.

The strike was aimed at reducing Iran's threat to US forces, international commercial shipping lanes and Gulf allies by destroying IRGC military infrastructure, CENTCOM said in a statement. Tehran has not yet released full details of casualties or damage in the attack.

But Crude oil prices have fallen in the international market despite renewed US airstrikes on Iran.Geographic Reference

According to data from the British news agency Reuters, the price of international benchmark Brent crude fell by $1.29, or 1.42 percent, to $89.45 per barrel as of 1:00 p.m. GMT. On the other hand, the price of US West Texas Intermediate (WTI) crude oil fell 56 cents, or 0.66 percent, to trade at $83.90 per barrel.

However, oil prices had seen a big jump in the previous trading day. Brent crude prices rose 7.91 percent and WTI prices rose 6.56 percent, the biggest price increases of the ongoing conflict. Earlier on Tuesday, oil prices in the international market fell by about 5 percent on news of a temporary ceasefire in the five-month conflict.

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US launches massive airstrikes across Iran But Oil prices fall despite Iran-US conflict

  The US Central Command has launched a new round of airstrikes on various military and strategic sites in Iran. The US military said the ...