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Oil tops $90 as Middle East fighting escalates

Axios·July 19, 2026·1 min read
Oil tops $90 as Middle East fighting escalates

Oil prices jumped above $90 per barrel Sunday, the first major trading since three U.S. service members died and Middle East hostilities escalated. Brent crude's move above $90, its first since mid-June, builds on last week's gains after the U.S.-Iran ceasefire deteriorated. The nationwide average U.S. gasoline price was just below $4 per gallon, per AAA, and likely to rise above that level Monday.

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