COMMODITY
Crude oil futures edge lower on Wednesday
Aug-27-2026

Crude oil futures ended slightly lower on Wednesday amid signs of diplomatic progress in West Asia, as investors assessed reports that Iran and Oman were nearing an agreement to establish a temporary transit corridor through the Strait of Hormuz. Meanwhile, the American Petroleum Institute (API) reported that U.S. crude oil inventories increased by 4,200,000 barrels for the week ending August 21, significantly exceeding market expectations for a 1,900,000-barrel increase and reversing the previous week’s 328,000-barrel decline. 

Benchmark crude oil futures for October delivery declined by $0.13 or 0.16% to settle at $82.23 a barrel on the New York Mercantile Exchange. Brent crude for October delivery decreased by $0.74 or 0.84% to settle at $87.84 a barrel on the New York Mercantile Exchange.  


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