Archive · 18 Aug 2026

Brent crude crosses $90 as US-Iran conflict prolongs

Brent crude crosses $90 as US-Iran conflict prolongs

Oil is a very important liquid that helps power cars, planes, and many other things we use every day.

A lot of the world's oil travels through a narrow waterway called the Strait of Hormuz.

The United States and Iran are having a big disagreement, and they have been trying to make a deal.

The time limit for that deal ended on Monday, and the two countries have not finished talking.

Because people are worried that oil might not get through, the price of oil went up.

On Monday, one kind of oil called Brent crude cost more than $91 for one barrel.

Another kind of oil, called West Texas Intermediate, cost more than $85 for one barrel.

Countries that sell oil, like Saudi Arabia, are looking for other ways to send their oil without going through the Strait of Hormuz.

The United States says it is not in a hurry to make a deal with Iran and is being patient.

People who buy and sell oil are watching closely to see what happens next.

Sources