COMMODITY
Crude oil futures end higher amid Middle East tensions
Aug-21-2026

Crude oil futures ended higher on Thursday, as expectations of an early reopening of the Strait of Hormuz faded after U.S. President Donald Trump announced stringent economic measures against Iran. Trump said the U.S. will launch what he called the ‘most crushing economic operation ever taken against any country’ against Iran. He also threatened severe financial penalties on any nation that helps Tehran evade sanctions.

Benchmark crude oil futures for October delivery rose by $2.44 or 2.89% to settle at $86.83 a barrel on the New York Mercantile Exchange. Brent crude for October delivery gained by $2.16 or 2.36% to settle at $93.78 a barrel on the New York Mercantile Exchange. 

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