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Commodities

Oil Prices Surge Amid US-Iran Peace Deal Uncertainty

Guavy AI Editorial Team
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Oil
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Oil prices rose to a one-week high on August 12th as concerns over potential US-Iran peace deal disruptions fueled Middle East supply worries.

Brent futures increased by 1.4% to settle at $88.91 per barrel, while West Texas Intermediate (WTI) crude rose 1.3% to $83.20.

The price surge comes as doubts about a potential US-Iran peace deal persist, leading investors to worry that supply disruptions in the region will continue.

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