Oil prices rose for a fifth consecutive session on Thursday, with Brent futures climbing 0.28% to $91.87 per barrel and U.S.
Oil prices rose for a fifth consecutive session on Thursday, with Brent futures climbing 0.28% to $91.87 per barrel and U.S. West Texas Intermediate futures gaining 0.13% to $89.91. The price movement follows concerns that the impasse in the United States' and Israel's relations with Iran may continue to limit supply from the Middle East, a region that historically handles about one-fifth of global oil consumption and now sees flows well below pre-war levels. Brent October contracts rose 26 cents to $91.87 a barrel, while the more active October WTI contract added 12 cents to $89.91. The September WTI contract increased 17 cents to $86 before its expiration later in the day. Analyst Hiroyuki Kikukawa of Nissan Securities said the market is supported by sporadic attacks in the region but lacks fresh momentum without a major escalation, and he expects a gradual upward trend amid uncertainty over peace talks and tensions involving the United Arab Emirates, Oman and Iran. The United Arab Emirates announced a suspension of all financial and economic transactions with Iran, highlighting the strained relationship between the Gulf oil producer and Iran. Shipping data showed no change in traffic through the Strait of Hormuz, though the conflict has reduced refined fuel supplies and drawn down inventories. The U.S. Energy Information Administration reported that distillate fuel stockpiles fell for a third consecutive week, while crude inventories rose 4.4 million barrels in the week ended August 14, exceeding analysts' expectations of a 600,000-barrel draw. Market participants expect the upward trend to continue as diplomatic efforts remain stalled and supply concerns persist.
- Publisher
- reuters
- Reliability
- high
- Published
- 8/20/2026, 10:00:32 AM
- Retrieved
- 8/20/2026, 10:00:32 AM
- Relevance
- 80%
- Confidence
- 85%

