{
  "id": 965330,
  "title": "Oil inches toward $90 on tanker attacks, lack of progress in Iran war peace deal",
  "url": "https://urgent.news/2026/08/15/oil-inches-toward-90-on-tanker-attacks-lack-of-progress-in-iran-war",
  "topic": "world",
  "section": "World",
  "published": "2026-08-15T05:17:15.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/commodities/news/oil-inches-toward-90-on-tanker-attacks-lack-of-progress-in-iran-war-peace-deal/articleshow/133256494.cms"
  },
  "original_language": "en",
  "account": "Crude oil prices edged closer to $90 per barrel on Friday due to tanker attacks and the absence of a peace deal between the United States and Iran. Brent futures rose to $88.52 per barrel, while U.S. West Texas Intermediate crude futures hit $82.40 per barrel. Analysts predict a 6.0% weekly gain for Brent and a 5.4% increase for WTI.\n\nThe rally was spurred by recent attacks on tankers and the lack of progress on a cease-fire agreement. Andrew Lipow, president of Lipow Oil Associates, stated that the situation may cause a reckoning if traffic through the Strait of Hormuz continues to be restricted. The strait, through which 20% of global oil supply passes, experienced slowed shipping activity following U.S.-Israeli attacks on Iran in late February.\n\nThe attacks on tankers, particularly the incident involving the Abu Dhabi National Oil Company's vessels in the Strait of Hormuz, have contributed to the price surge. Phil Flynn, a senior analyst for Price Futures Group, attributed the price increase to the tanker attacks. Additionally, the Ukrainian attack on the Black Sea port of Novorossiysk has further disrupted crude oil exports from Russia.\n\nWhile Middle Eastern supplies are constrained, OPEC forecasts anticipate weaker demand growth and a significant increase in U.S. crude inventories, which should help lower oil prices. The International Energy Agency and U.S. Energy Information Administration's recent reports indicated that storage levels are better than expected, potentially leading to a drop in oil prices.",
  "summary": "Crude oil futures experienced an upward trend on Friday due to disruptions from tanker attacks and the stagnation of peace talks. Brent crude closed at $88.52 a barrel while WTI crude settled at $82.40. Attacks within the Strait of Hormuz and disruptions at a Russian port led to a decline in shipping activity. Fortunately, storage levels have proven more resilient, potentially exerting downward…",
  "key_points": [
    "Brent crude nears $90 per barrel amid tanker attacks and Iran-Iraq peace deal stalemate",
    "Tanker attacks, especially on Abu Dhabi National Oil Company vessels, drive oil price surge",
    "OPEC forecasts weaker demand growth and increased U.S. crude inventories may lower prices"
  ],
  "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."
}