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strikeAug 18, 2026

Crude prices cross $90 as ceasefire hopes dim, Hormuz disruption weighs on supply

Summary

Oil prices inched higher on Tuesday, with Brent crude surging past the $90-a-barrel mark as hopes of an early end to the Middle East war remained uncertain.

Source: TOI Business Desk — Read the full report

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USIranProxy

Sources

  • TOI Business DeskBy TOI Business Desk

    Oil prices inched higher on Tuesday, with Brent crude surging past the $90-a-barrel mark as hopes of an early end to the Middle East war remained uncertain. Iran signalled a shift towards a more offensive military approach, while US ruled out extending the ceasefire, adding to co…

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strikeUnverifiedUSIsraelIranRussia
○ 1 source

Indirect US-Iran talks concluded without a deal, according to reports. The United States and Israel launched a military campaign against Iran in late February, which disrupted global energy supplies and shipping through the Strait of Hormuz. Media reports suggest Washington could resume strikes after the November 3 midterm elections, following repeated threats from US President Donald Trump.

Location: Iran