Oil Price Today (July 30): Crude oil dips below $90 after 8% surge on Wednesday. Here's why

Crude oil prices fell on July 30, with Brent crude down $1.29 to $89.45 a barrel. Prices eased after a sharp 8% surge on Wednesday. Many oil tankers continued to move out of the Middle East despite the ongoing U.S.-Iran war, which helped calm the market after recent intense volatility.