Markets · Commodity markets, July 22

Middle East supply risk continues to drive the tape

Wednesday, July 22, 2026. From GEO's evening brief, after the close.

WTI is trading at $86.48/bbl, up 2.54% on the day, with Brent near $94. This morning's EIA report showed U.S. commercial crude stocks building 2.0mb even as the SPR drew again and Cushing tightened. War-driven flight to safety lifted gold above $4,100 and silver past $60, while wheat jumped more than 4% on European harvest damage.

Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.