Commodities

Middle East Tensions Weigh on Crude Oil Futures

Guavy AI Editorial Team Published August 28, 2026

Instruments

Oil

Crude oil futures dipped on Friday due to ongoing tensions in the Middle East. A deal to open the Strait of Hormuz remains elusive, which is contributing to the downward trend.

The Strait of Hormuz is a critical chokepoint for global oil supplies, and any disruption can have far-reaching consequences. The region has been volatile in recent weeks, with several incidents reported, including an attack on an oil tanker late Wednesday.

The Wire

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