Oil settles near 4-week high as Middle East crisis escalates

Published Aug 19, 10:03 PM UTC

Crude oil prices rose on Wednesday, August 19, 2026, settling at their highest level in nearly four weeks as the Middle East crisis escalated. Brent crude futures settled at US$91.62 a barrel, up 60 cents or 0.7 percent. Both benchmarks closed at their highest since July 24. The price increase is attributed to the escalating crisis in the Middle East, which has raised concerns about potential supply disruptions from the oil-rich region. The article was published by The Business Times Singapore on August 20, 2026.