{
  "id": 1852106,
  "title": "Oil edges up on uncertainty over exports through Hormuz",
  "url": "https://urgent.news/2026/08/19/oil-edges-up-on-uncertainty-over-exports-through-hormuz-1852106",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T02:28:08.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/08/1514226/oil-edges-uncertainty-over-exports-through-hormuz"
  },
  "original_language": "en",
  "account": "Oil prices rose in early trading on Wednesday, marking a fourth consecutive day of gains driven by supply uncertainty over the Strait of Hormuz. Brent crude futures increased by 26 cents, or 0.29%, to US$91.28 per barrel, while US West Texas Intermediate crude futures climbed 37 cents to US$85.31 per barrel. Both contracts had reached their highest levels since July 24, following waning hopes for peace between the United States and Iran. President Donald Trump affirmed on Tuesday that no negotiations were taking place with Iran and insisted the strategic waterway remained open, a claim contradicted by Iran's assertion that it remained closed to shipping. A temporary ceasefire agreement expired on Monday, and a senior Iranian official reported to Reuters that Iran was shifting to a fully offensive military stance due to the diplomatic impasse. However, there were no fresh strike reports from either side by Tuesday. To circumvent the Strait of Hormuz, Iraq's cabinet endorsed mechanisms for exporting crude through specialized international and local entities via multiple export outlets, starting September 1, according to a government statement. Two Chinese shipping giants have halted oil tanker shipments through Hormuz and the Bab al-Mandeb strait due to the Middle East conflict, opting instead to collect oil cargoes outside the Gulf, according to industry executives, tanker trackers, and a ship broker. In the United States, crude oil and distillate inventories declined last week, while gasoline stocks rose, based on data from the American Petroleum Institute. Official inventory figures from the US Energy Information Administration are scheduled for release at 10:30 a.m. ET (1430 GMT), with analysts forecasting crude stocks to have dropped by approximately 600,000 barrels in the week ending August 14.",
  "summary": "NEW YORK: Oil prices ticked higher in early trade on Wednesday, climbing for a fourth straight day on supply uncertainty as investors weighed conflicting messages from Tehran and Washington on whether the Strait of Hormuz is open to ships.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}