{
  "id": 419110,
  "title": "Oil rises as uncertainty continues over reopening of Strait",
  "url": "https://urgent.news/2026/08/09/oil-rises-as-uncertainty-continues-over-reopening-of-strait-419110",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-09T22:18:26.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/commodities-news/oil-rises-as-uncertainty-continues-over-reopening-of-strait-4847759"
  },
  "original_language": "en",
  "account": "Oil prices surged by 5% on Monday, following Iran's and the United States' demands for compensation, casting doubt on a potential reopening of the Strait of Hormuz. Iran insisted that Washington must lift sanctions and meet other conditions, while U.S. President Donald Trump stated Iran must pay for all lives lost and injuries sustained. Brent crude futures rose $4.17, or 4.99%, to $87.72 a barrel, and U.S. West Texas Intermediate crude futures increased $3.95, or 5.05%, to $82.13. These gains marked the largest since July 29 for both contracts. Earlier this week, both benchmarks declined over 7% due to hopes of a deal between Iran and Oman, which would open the strait carrying a fifth of the world's oil and liquefied natural gas. However, relations between Iran and the U.S. remain tense, with Iran rejecting any talks while Washington is in breach of a June interim deal. Crude futures are experiencing gains amid concerns over potential supply disruptions. The Iran-aligned Houthis attacked Saudi Aramco's Jazan refinery, prompting its restart to be delayed until August 30. Additionally, 15 vessels belonging to Abu Dhabi National Oil Company (ADNOC) were targeted while passing through the Strait of Hormuz since the conflict began. Meanwhile, Ukraine continued to strike Russia's energy infrastructure, targeting the Taneco oil refinery in Tatarstan and the ZapSibNeftekhim petrochemical plant in Russia's Tyumen region. On the U.S. supply side, crude oil stocks in the Strategic Petroleum Reserve fell by 6.1 million barrels to 298.7 million barrels last week, the lowest level since January 1983.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Oil rises as uncertainty continues over reopening of Strait",
        "url": "https://urgent.news/2026/08/09/oil-rises-as-uncertainty-continues-over-reopening-of-strait",
        "published": "2026-08-09T22:17:04.000Z"
      }
    ]
  },
  "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."
}