New Delhi, July 29 -- Crude oil prices rebounded on Wednesday, 29 July, after US President Donald Trump said in an interview with Fox News that Iran was "going to get a beating" following an attempted attack on US forces.

Brent crude, the international benchmark, climbed 7.5% or $6.15 to $88.13 a barrel, while US benchmark WTI crude rose $8, or nearly 6.3%, to $85.53 a barrel. The renewed hostilities in the Middle East reignited fears of supply disruptions after several days of relative calm.

Speaking to Fox News, Trump said the overnight attacks had been intercepted, described Iran-backed militias as "a cancer on the world," and said US strikes on Iran-backed groups in Iraq were carried out in coordination with Baghdad. He also reitera...