Oil Rises on Supply Concerns

Oil Rises on Supply ConcernsSingapore, 17 Aug 2026 (ONA) — Oil prices rose today as stalled US-Iran peace talks and slower tanker traffic through the Strait of Hormuz heightened concerns about oil supplies. Brent crude futures rose 1% to $89.40 a barrel, while the contract was last up 72 cents at $89.20. US West Texas Intermediate (WTI) crude futures also gained 44 cents to $82.83 a barrel. Both benchmarks rose more than 5% last week amid continued tensions in the Middle East. — Ends/AH