Brent Crude Nears $87 as Geopolitical Risks Support Prices

PUKMEDIA

Oil prices.

Oil prices edged higher on Friday, 14 August 2026, as renewed tensions between the United States and Iran raised concerns over potential disruptions to global crude supplies.

Brent crude futures rose 1 cent, or 0.1%, to $87.08 a barrel, while US West Texas Intermediate (WTI) crude gained 6 cents to $81.31 a barrel by 02:47 GMT. Both benchmarks were on track for weekly gains of around 4%. 

The modest gains came after oil prices fell by more than 2% on Thursday, with investors focusing on weaker global demand forecasts and a sharp increase in US crude inventories. US commercial crude stocks rose by 17.4 million barrels in the week ending 7 August, the largest weekly increase since January 2023. 

Geopolitical tensions remain a key factor supporting prices. The United States has threatened to maintain a naval blockade of Iran indefinitely, while uncertainty surrounding the Strait of Hormuz continues to raise concerns about global oil supplies.

At the same time, lower demand forecasts from OPEC and the International Energy Agency, together with rising US inventories, are limiting further price gains.


PUKMEDIA