Kate Blanchett looks Oscar worthy in a new trailer for Woody Allen's 'Blue Jasmine.'

Kate Blanchett looks Oscar worthy in a new trailer for Woody Allen’s ‘Blue Jasmine.’

Cate Blanchett is amazing in a new trailer for Woody Allen’s latest film “Blue Jasmine.” It may be Allen’s best film in years, and Blanchett’s performance looks Oscar worthy just from the few scenes featured in the clip.

Allen’s most recent films have been hit or miss, with pictures like 2008’s “Vicky Cristina Barcelona” and 2011’s “Midnight in Paris” among the standouts.

While other films like 2009’s “Whatever Works” and “You Will Meet a Tall Dark Stranger” didn’t fare as well at the box office, Allen has rightly earned Critic Roger Ebert’s description of him as “a treasure of the cinema.”

His early film-making speaks for itself, but its nothing short of amazing that Allen, even at 77, is still so keyed into the nation’s collective angst. The drama focuses on Jasmine (Blanchett), the wife of a high-flying Wall Street financier (Alec Baldwin), who is convicted of fraud.

The fashionable New York housewife is left emotionally and financially bankrupt by the scandal. She leaves New York City and moves in with her sister, played by Sally Hawkins, in San Francisco. Even though she’s broke, Jasmine still can’t bring herself to fly coach.

Sister Ginger leads a blue collar existence while Louis C.K., Andrew Dice Clay, Bobby Cannavale and Max Casella play the rough-hewn men in her life. They can’t stand Jasmine’s Manhattan affectations, or her shallowness, but Ginger only sees her distress.

The resulting culture clash is hilarious and sad at the same time. Jasmine slips deeper and deeper into depression as the excruciating pain and humiliation of her ordeal sink in. She lives off vodka and Xanax.

While it’s hard to judge a film by one trailer, Allen has hit a nerve that unleashes raw emotions in his characters.

The film will hit theaters on July 26. Check out the trailer below and follow TheImproper on Twitter for all the latest film updates.