Brent crude oil surged and then fell back during Monday’s session as geopolitical risks and concerns over supply disruptions intertwined.
智通财经2026/08/17 08:26- Brent crude oil surged to $89.30 per barrel during Monday’s session before retreating to around $88.70, as investors assess the uncertain outlook of the US-Iran conflict and the risks of potential supply disruptions.
- Renewed fighting in Lebanon and ship attacks in the Strait of Hormuz have intensified concerns about ongoing tensions, while deadlock in US-Iran negotiations has dampened hopes for a swift resolution. Iran’s Foreign Minister stated that Tehran has not yet decided whether to resume talks, and the US President has called for the public to accept higher gasoline prices due to the conflict.
- Shipping activity in the Strait of Hormuz slowed markedly over the weekend, with only five cargo vessels passing through on Saturday and none on Sunday, compared to 31 over the previous weekend. Although risks have increased, the lack of major supply disruption events has limited further upward movement in oil prices.
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