10:13 - 10.08.2026

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August 10, Fineko/abc.az. Crude oil prices moved higher on Monday, with Brent crude futures rising 1.09% to $84.46 per barrel and U.S. West Texas Intermediate (WTI) gaining 0.78% to reach $78.79 per barrel.

The price surge is driven by ongoing uncertainty over the reopening of the Strait of Hormuz and heightened geopolitical risks. Tehran maintains that opening the strait depends on the U.S. fulfilling additional demands, including war damages. Escalating supply risks were further underlined by a Houthi strike on Saudi Aramco's Jizan refinery and ADNOC's report of attacks on 15 of its vessels.