10:10 - 12.08.2026

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August 12, Fineko/abc.az. Crude oil prices advanced on Wednesday driven by escalating geopolitical tensions and caution ahead of crucial U.S. inflation figures.

U.S. WTI crude rose 0.89% to $83.94 per barrel, while Brent crude gained 0.78% to reach $89.60 per barrel.

Diminishing expectations of a U.S.-Iran de-escalation, ongoing uncertainties around the Strait of Hormuz, and recent Houthi maritime attacks pushed energy prices higher. At the same time, investors are closely monitoring the upcoming U.S. Consumer Price Index (CPI) report for July, which will heavily influence the Federal Reserve's rate decision in September where annual inflation is expected to cool to 3.4%.