Oil rises, fresh shipping attacks weaken US-Iran peace hopes
Oil prices climbed on Wednesday as fresh attacks on shipping in the Middle East heightened concerns over supply disruptions, while uncertainty surrounding a potential US-Iran agreement kept the Strait of Hormuz effectively closed.
August 12, 2026 (MLN): Oil prices climbed on Wednesday as fresh attacks on shipping in the Middle East heightened concerns over supply disruptions, while uncertainty surrounding a potential US-Iran agreement kept the Strait of Hormuz effectively closed. Currently, Brent crude futures is up, 1.63%, at $89.67 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) crude futures is up by $1.30, or...