{
  "id": 650349,
  "title": "Oil prices edge higher as Middle East supply risks intensify after maritime attacks",
  "url": "https://urgent.news/2026/08/12/oil-prices-edge-higher-as-middle-east-supply-risks-intensify-after",
  "topic": "world",
  "section": "World",
  "published": "2026-08-12T09:33:00.000Z",
  "source": {
    "name": "New Voice of Ukraine",
    "slug": "new-voice-of-ukraine",
    "url": "https://english.nv.ua/business/oil-prices-rise-amid-middle-east-supply-disruption-worries-following-attacks-on-vessels-50631960.html"
  },
  "original_language": "en",
  "account": "Oil prices rose on August 12, 2026, as worries over a broken U.S.-Iran peace agreement and recent attacks on ships in the Middle East heightened fears of supply interruptions, according to Reuters. Brent crude futures increased by 72 cents, or 0.81%, to $89.63 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed by 71 cents, or 0.85%, to $83.91 per barrel. The United States and Iran-aligned Houthi rebels claimed separate attacks on vessels in the Strait of Hormuz and the Bab el-Mandeb Strait. Only six ships traversed the Strait of Hormuz on August 10, down from the 10-day average of 11 vessels per day before the conflict. The critical waterway typically saw 125 to 140 vessels daily prior to the war. Iran's Supreme National Security Council Secretary Mohsen Rezaei warned that the Strait of Hormuz shipping lane would remain closed until the United States fulfills Tehran's demands, namely the release of frozen Iranian assets and an end to regional hostilities. On July 22, 2026, U.S. President Donald Trump threatened Iran that the U.S. would destroy an Iranian bridge or power plant for every ship attacked in the Strait of Hormuz. U.S. forces conducted 12 consecutive nights of military strikes against Iran on July 23. Oil prices surged to their highest level in six weeks on July 23, 2026, amid escalating tensions in the Red Sea following additional U.S. military strikes on Iran. Oil prices adjusted on July 28 following discussions between the U.S. and Iran. Prices fell on July 30, despite renewed Middle East escalations. A single Trump statement on August 3 caused oil prices to fluctuate. Oil prices jumped on August 10, driven by uncertainty about the Strait of Hormuz's reopening.",
  "summary": "Oil prices edged higher on August 12 as escalating fears over a stalled U.S.-Iran peace deal and recent maritime attacks on two vessels intensified supply disruption concerns, even as inventories of U.S. crude swelled, Reuters reported.",
  "key_points": [
    "Oil prices rise on August 12, 2026, amid Middle East supply risks",
    "U.S.-Iran peace deal broken, Houthi rebels attack ships in Strait of Hormuz and Bab el-Mandeb",
    "Iran warns Strait of Hormuz shipping lane to remain closed until U.S. meets Tehran's demands"
  ],
  "editors_take": "Escalating tensions and potential supply disruptions in the Middle East are bolstering oil prices, as fears of shipping lane closures and US-Iran conflict continue to impact market sentiment.",
  "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."
}