US-Iran Tensions Send Crude Oil Prices Soaring to $85 Per Barrel

Crude oil prices continued their upward trend on August 19, reaching $85 per barrel as tensions between the US and Iran persisted.

The conflict has kept supply concerns elevated, with the Strait of Hormuz remaining a major shipping risk despite President Trump's claim that it was open and mines had been cleared.

Iranian forces have stepped up hostilities over the past week, with eight attacks on vessels traveling through the strategic route reported so far this month.

In contrast to Brent crude, which was down 0.80% at $91.751 per barrel, WTI prices rose by 0.92% to $85.720 per barrel.