09:55 - 17.08.2026

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August 17, Fineko/abc.az. Oil prices climbed on Monday as fading hopes for a U.S.-Iran peace deal and a sharp decline in tanker traffic through the Strait of Hormuz renewed geopolitical risk concerns across energy markets.

Brent crude futures rose by up to 1% to reach $89.40 a barrel, currently trading around $89.20, while U.S. West Texas Intermediate (WTI) crude advanced to $82.83. Both benchmarks gained over 5% last week following attacks targeting Abu Dhabi National Oil Company (ADNOC) tankers and a Saudi Aramco refinery.

Vessel-tracking data from Kpler reveals that maritime traffic through the Strait of Hormuz slowed dramatically over the weekend, with only five commercial vessels passing on Saturday and zero transits recorded on Sunday, compared to 31 transits during the previous weekend.