Oil Prices Surge Amid Fading Iran Deal Hopes

Oil prices surged in early Asian trading on August 10, 2026, as optimism over a potential U.S.-Iran agreement faded. WTI crude futures rose about 0.8%, hovering around $79 a barrel, while Brent crude gained nearly 1%, trading near $85 a barrel.

Analysts say that whenever geopolitical tensions flare, oil supplies are disrupted and prices rise, but when signs of easing emerge, some of the backed-up crude is released, pushing prices back down. This has left oil supplies being released in intermittent waves, rather than returning to the stable flow seen in the past.

Mukesh Sahdev, Chief Oil Analyst, commented that 'the entire supply chain is in a deep fracture mode, and it will take many, many years to recover.' He also stated that he believes oil prices will oscillate within the range of $70 to $90.