Oil Climbs as Fading Middle East Peace Deal Diminished

Oil Climbs as Fading Middle East Peace Deal DiminishedSingapore, 18 Aug 2026 (ONA) — Oil prices rose today as prospects for a Middle East peace agreement faded after the US ruled out extending the ceasefire, fueling concerns about energy supplies. Brent crude futures climbed 27 cents, or 0.3%, to $91.14 a barrel after rising to their highest since July 30 on Monday. US West Texas Intermediate crude futures were up 42 cents to $85.04 a barrel, but off an earlier session gain of more than 1% to reach $85.37, their highest since July 31. — Ends/AH