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Oil prices rose on Tuesday as the resumed fighting between the U.S. and Iran renewed concerns about supply disruption from the Middle East. Brent was up about 0.7% near $91.15 and WTI about 0.8% near $86.46 in early trade.
Iranian retaliation risk and shipping uncertainty through the Strait of Hormuz were cited as drivers.
Crude strength feeds into diesel, fertilizer and freight costs that flow through to feed prices. The move is modest so far, but the Strait of Hormuz risk keeps upside pressure in place.
businesstimes.com.sgAug 31, 2026
cnbc.comReutersSep 1, 2026After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
