{
  "id": 4576672,
  "title": "Oil rises to above $90 as US and Iran resume strikes",
  "url": "https://urgent.news/2026/08/31/oil-rises-to-above-90-as-us-and-iran-resume-strikes-4576672",
  "topic": "world",
  "section": "World",
  "published": "2026-08-31T04:38:30.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/energy/2026/08/31/oil-rises-to-above-90-as-us-and-iran-resume-strikes/"
  },
  "original_language": "en",
  "account": "Oil prices surged past the $90 mark on Monday as the United States and Iran resumed strikes, signaling a potential escalation in their ongoing conflict. The benchmark Brent crude climbed 2.24% to $90.07 per barrel, while US crude West Texas Intermediate increased by 1.94% to $85.02 per barrel.\n\nThe US carried out strikes on Iranian targets near the strategic Strait of Hormuz, aiming at mines potentially being mined in the area. This marks the first US military action against Iran in a month. Iran retaliated by targeting two US bases in Jordan with eight intercepted missiles.\n\nAdding to the tension, US President Donald Trump posted on social media about Kharg Island, Iran's key oil export facility, being \"blown to smithereens.\" Kharg Island handles approximately 90% of Iran's oil exports, with a daily loading capacity of 7 million barrels and storage capacity of 30 million barrels.\n\nUS Treasury Secretary Scott Baessen revealed that secondary sanctions on Iran's trading partners could be applied on a weekly basis, targeting banks and urging them to refrain from aiding the regime. Crude oil prices have been volatile since the onset of the war, peaking at around $126 a barrel in April before settling back due to easing concerns over prolonged supply disruptions. Shipping through the Strait of Hormuz, which previously accounted for about a fifth of global energy exports, has declined recently due to fears of further hostilities.",
  "summary": "Oil prices rose on Monday morning after the US and Iran exchanged strikes for the first time in a month , with Washington also threatening to increase economic pressure on Tehran's trading allies. Brent, the benchmark for two thirds of the world's oil, was up 2.24 per cent at $90.07 a barrel at 7.19am UAE time. West Texas Intermediate, the gauge that tracks US crude, was trading 1.94 per cent…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "US strikes Iran for first time in a month, Tehran retaliates",
        "url": "https://urgent.news/2026/08/31/us-strikes-iran-for-first-time-in-a-month-tehran-retaliates-4557452",
        "published": "2026-08-31T01:50:00.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Iran vows ‘decisive response’ to first US strikes in weeks",
        "url": "https://urgent.news/2026/08/31/iran-vows-decisive-response-to-first-us-strikes-in-weeks",
        "published": "2026-08-31T03:03:00.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Iran targets Jordan after first US attack in a month",
        "url": "https://urgent.news/2026/08/31/iran-targets-jordan-after-first-us-attack-in-a-month",
        "published": "2026-08-31T03:06:56.000Z"
      },
      {
        "outlet": "The National UAE",
        "title": "Iran war latest: US launches first strikes on Iran in a month",
        "url": "https://urgent.news/2026/08/31/iran-war-latest-us-launches-first-strikes-on-iran-in-a-month",
        "published": "2026-08-31T04:06:30.000Z"
      },
      {
        "outlet": "IOL",
        "title": "Iran vows ‘decisive response’ after US strikes spark fresh Middle East escalation",
        "url": "https://urgent.news/2026/08/31/iran-vows-decisive-response-after-us-strikes-spark-fresh-middle-east",
        "published": "2026-08-31T05:08:00.000Z"
      }
    ]
  },
  "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."
}