You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Dips As War-Weary Investors Are Gripped By Inflation Fears Oil Dips As War-Weary Investors Are Gripped By Inflation Fears by Ship & Bunker News Team Friday July 24, 2026 Tweet Follow @shipandbunker Rate hikes are anticipated - along with demand reduction: File Image/Pixabay Despite an escalation of hostilities between the U.S. and Iran and the latter attacking other Gulf nations all week, Brent on Friday fell   3.9 percent to $96.78 per barrel. West Texas Intermediate fell 3.1 percent to $89.31 per barrel. Adam Ludwick , director of asset allocation at NEI Investments , said markets were experiencing a bifurcation heavily influenced by the re-emergence of inflation risks: “This is obviously due to the new tariff announcements that were mentioned earlier in the week and obviously higher energy prices; we’ve seen oil come all the way back up to near US $100 per barrel.” “ Iran wants oil prices to climb "as high as possible" ING Ludwick was referring to U.S. president Donald Trump ramping up his global trade war with a fresh round of tariffs on dozens of nations – which impact nearly all U.S. imports; pundits worry that this, combined with rising energy prices, could exacerbate inflation, which in turn could negatively impact oil demand. The U.S. Federal Reserve will meet later this month, with expectations being it will enact one of at least several rate increases said to be in the works for the remainder of the year. While inflation was seen as a growing influence on investors, oil supply remained a pressing analytical concern: ING wrote  in a research note that if oil reaches $120 per barrel, pressure will be on T