{
    "success": true,
    "data": {
        "id": 1873692,
        "msgid": "oil-prices-surge-to-us-92-as-middle-east-conflict-escalates-1784692256",
        "date": "2026-07-22 09:41:14",
        "title": "Oil Prices Surge to US$92 as Middle East Conflict Escalates",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Energy",
        "summary": "Global oil prices extended their rally on Wednesday, with Brent crude hitting a five-week high above US$92 per barrel, driven by escalating conflict in the Middle East. Renewed US strikes on Iranian military targets and threats to Saudi oil shipments via the Bab el-Mandeb strait have heightened fears of supply disruptions. Market volatility is expected to persist as traders also await official US inventory data.",
        "content": "<p>Global oil prices continued their rally in early trading on\nWednesday, driven by an escalation of conflict in the Middle East that\nhas reignited market concerns over global energy supplies. Brent crude\nwas at US$92.13 per barrel, up 1.23% from the previous close, while West\nTexas Intermediate (WTI) strengthened to US$85.28 per barrel, a gain of\n0.44%. The increase pushed Brent to its highest level in more than five\nweeks. Compared to Friday\u2019s close, Brent has surged approximately 4.6%,\nwhile WTI has risen around 3.4%. The price strengthening came after the\nUnited States military continued strikes against Iranian military\ntargets for the eleventh consecutive night. Simultaneously, Kuwait\nreported its air defence systems intercepted an Iranian drone,\nbroadening market fears that the conflict could potentially disrupt oil\nsupply flows from the Middle East. Supply risks gained further attention\nafter Iran-backed Houthi groups threatened Saudi oil tankers in the Bab\nel-Mandeb strait and announced a naval blockade against Saudi Arabia.\nThis route now plays a larger role for Saudi oil exports as traffic\nthrough the Strait of Hormuz has sharply decreased since the ceasefire\nbetween the United States and Iran collapsed earlier this month. Beyond\ngeopolitical developments, market participants are also monitoring data\nfrom the American Petroleum Institute (API) showing crude oil and\ndistillate product inventories rose last week, while petrol stockpiles\nfell. The market now awaits official data from the Energy Information\nAdministration (EIA) to be released on Wednesday local time for a\nclearer picture of supply and demand conditions in the United States.\nThe escalation of conflict in the Middle East, threats to major oil\nshipping lanes, and the anticipation of US oil stock data are expected\nto keep price volatility high in the short term. As long as the risk of\nsupply disruption from the Persian Gulf region remains significant, the\noil market is likely to maintain a risk premium on prices.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/oil-prices-surge-to-us-92-as-middle-east-conflict-escalates-1784692256",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}