July 29/26: Oil prices jump 7% after Trump says U.S. will hit Iran hard

• President Donald Trump told Fox News that the U.S. will hit Iran hard in retaliation for an attempted surprise attack on American forces.
• Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles at U.S. forces, Central Command said. The missiles were successfully intercepted, Centcom said.
• The escalating tensions come after a brief pause in fighting that sent oil prices lower on hopes that the ceasefire would resume.

https://www.cnbc.com/2026/07/29/oil-prices-today-brent-wti-iran-us-hormuz.html