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macroJul 20, 2026, 8:23 AM

Oil Prices Jump Over 3%, Testing $91 as Stocks Brace for Earnings

Brent crude surged more than 3% to test $91 per barrel, the highest in months, as geopolitical tensions and earnings season dominate the week ahead.

BCOUSD

Oil prices rallied at the start of the week, with Brent crude climbing over 3% and testing the $91 per barrel level — the highest since an unspecified period. The move comes amid renewed geopolitical risk after reports that US forces initiated operations, and as markets look ahead to a busy earnings season.

While former President Donald Trump was attending a World Cup-related event in New Jersey, the focus shifted to supply-side concerns that pushed crude higher. Stock markets face a test this week as corporate earnings reports begin to roll in, potentially setting the tone for risk assets alongside the oil rally.

Source: FXStreet Forex News