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US, Saudi Jets Strike Iraqi Logistics Sites, Oil Prices Jump

7/29/2026

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US-Saudi Strikes
  • U.S. and Saudi fighter aircraft struck multiple logistics and weapons sites in eastern Iraq on July 28, 2026.
  • The strikes amplified oil market volatility and deepened Saudi Arabia’s fiscal strain amid rising deficits.
  • U.S. Central Command said strikes hit terrorist logistics after more than 30 IRGC drone attacks.
  • Saudi Defense Ministry said kingdom does not seek escalation but will respond to any aggression.
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