Oil climbs as fading US-Iran peace hopes raise supply risks

Published Aug 17, 10:01 PM UTC

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Oil prices rose on Tuesday, with Brent crude futures climbing 27 cents (0.3%) to US$91.14, following a week of significant gains. Both Brent crude and US WTI crude contracts gained more than 5% last week after attacks on tankers heightened supply risks. The price increase is attributed to fading hopes for peace between the United States and Iran, which has raised concerns about potential disruptions to oil supplies from the Middle East. The article, published by The Business Times Singapore on August 18, 2026, highlights the direct impact of geopolitical tensions on global energy markets.

Source

The Business TimesRegional

Original language: EN-US

Part of this Story

Iran War Stalemate Drives Oil Prices to Multi-Week Highs

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Iran