US retaliation against Iran sends oil over 4% near $87.50
Business
Oil prices shot up over 4% on Wednesday, landing near $87.50 a barrel after US retaliation against Iran raised fears about supply disruptions.
This sudden spike has people worried about higher inflation and pricier essentials around the world.
Markets react ahead of Fed decision
The oil surge rattled financial markets too: the yield on the benchmark 10-year note nudged up to 4.62%, while Asian stocks bounced back: South Korea's Kospi rose 1.2% and MSCI Asia Pacific gained 0.6%.
Even tech-heavy Nasdaq-100 futures recovered a bit after earlier losses.
Now, everyone's watching to see what the US Federal Reserve does next with interest rates on Wednesday, July 29, 2026, as energy prices and global uncertainty keep investors guessing.