Oil prices continued their upward trend today, marking the fifth consecutive session of gains, driven by ongoing apprehensions that the conflict between Washington and Tehran could further disrupt Middle Eastern oil supplies and tighten global availability.

As of 9:35 AM Moscow time, futures for the U.S. benchmark, West Texas Intermediate (WTI) crude for September delivery, rose by 0.20%, bringing the price to $86 per barrel.

Meanwhile, Brent crude futures, set for October delivery, increased by 0.36% to reach $91.95 per barrel.

The two benchmarks have seen consistent rises over the past five days, achieving their highest settlement levels since July 24, 2026, as of the close of trading yesterday.

The strategic Strait of Hormuz remains crucial to oil markets. Prior to the conflict's outbreak on February 28, shipments through this vital passage accounted for roughly 20% of global oil consumption. Current flows through the strait are significantly lower than pre-conflict levels.

Source: RT