{
  "id": 3968895,
  "title": "Oil prices swing between war risk and diplomacy after six months of Iran standoff",
  "url": "https://urgent.news/2026/08/28/oil-prices-swing-between-war-risk-and-diplomacy-after-six-months-of",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T13:39:04.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/energy/2026/08/28/oil-prices-swing-between-war-risk-and-diplomacy-after-six-months-of-iran-standoff/"
  },
  "original_language": "en",
  "account": "Crude oil prices have fluctuated significantly over the past six months of the Iran conflict, starting around $72.48 a barrel in February and reaching nearly $120 a barrel in April before dropping again. The market has been caught between geopolitical risk and hopes for a return to normal oil flows, with every development in the conflict impacting prices. Brent, the global oil benchmark, was at $72.48 a barrel on February 28 and reached $89.39 a barrel on August 4. West Texas Intermediate was at $67.02 in February and $82.99 at the same date. Following the ceasefire announcement in June, oil companies' businesses and stock prices surged. Despite ongoing US-Iran diplomatic efforts, analysts are monitoring the Federal Reserve's stance on interest rates. The Fed's decision to keep rates low, despite high energy prices, has complicated matters, as higher oil prices can be inflationary and influence monetary policy decisions. With lower oil prices and a hawkish Fed outlook, economic data and labor market performance are becoming key factors in determining the Fed's future actions.",
  "summary": "Crude oil prices have swung sharply over six months of war in Iran , rising almost two-thirds to nearly $120 a barrel before falling back as diplomatic efforts eased fears of a prolonged disruption to global supplies. The result has been a market repeatedly pulled between geopolitical risk and hopes of a return to normal oil flows, with every development in the conflict feeding through to prices.…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Daily Times",
        "title": "Oil prices set for weekly loss as Iran tensions persist",
        "url": "https://urgent.news/2026/08/28/oil-prices-set-for-weekly-loss-as-iran-tensions-persist",
        "published": "2026-08-28T11:26:09.000Z"
      },
      {
        "outlet": "The National Business",
        "title": "Oil prices swing between war risk and diplomacy after six months of Iran standoff",
        "url": "https://urgent.news/2026/08/28/oil-prices-swing-between-war-risk-and-diplomacy-after-six-months-of-3974910",
        "published": "2026-08-28T13:39:04.000Z"
      }
    ]
  },
  "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."
}