Brent Hits $92.85 as New US Strikes on Iran Extend Oil's 20% Monthly Rally

Brent crude rose $1.84 (2.0%) to $92.85 a barrel on July 22, 2026, per Reuters, after the US announced fresh military strikes against Iran. The gain extends a 30-day rally of 19.5%. WTI climbed 2.0% to $86.01. Goldman Sachs estimates Persian Gulf oil flows have fallen to the low-70s percent of normal capacity amid the conflict.