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Oil rises as renewed U.S.-Iran strikes reignite Middle East supply fears

CNBC · Jun 29, 2026, 12:06 AM · Also reported by 4 other sources

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  • Oil edged higher on Monday after renewed military strikes between the U.S. and Iran reignited concerns over crude supplies from the Middle East.
  • West Texas Intermediate futures edged higher by 0.71% to $69.72 a barrel, falling below $70 on Friday for the first time since Feb. 27 — the day before the start of the Iran war.

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Oil edged higher on Monday after renewed military strikes between the U.S. and Iran reignited concerns over crude supplies from the Middle East.

West Texas Intermediate futures edged higher by 0.71% to $69.72 a barrel, falling below $70 on Friday for the first time since Feb. 27 — the day before the start of the Iran war. International Brent climbed 0.36% to $72.25.

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