ConfirmedShipping, energy & marketsLondon, United Kingdom
Brent crude tops $90 after US-Iran exchange of fire
- Mountain Time
- Local time
- 12:33 AM in London, Aug 31
- Where
- London, United Kingdom
Brent futures climbed above $90 a barrel in early Asian trading on Monday, up about 2.5% at $90.32, after the US strike on Larak Island and Iran's retaliation on Jordan, and settled the day up 2.7% above $90, AP reported. US crude rose about 3.5% and the Dow fell 374 points.
Why it matters
A DBS analyst said each flare-up pushes back the timeline for reopening Hormuz and expected Brent to stay in an $85-95 range until the strait's status is clearer.
Sources (6)
- Reuters via KFGOkfgo.comPublished
- CNBCcnbc.comPublished
- TradingEconomicstradingeconomics.com
- Fox Newsfoxnews.comPublished
- CBS Newscbsnews.comPublished
- CBS News (2)cbsnews.comPublished
Confidence: Corroborated by independent sources or direct evidence. About confidence labels
Correction
- Corrected the time from 3:15 AM London time, Aug 31, 2026 to 12:33 AM London time, Aug 31, 2026; corrected the headline (it read "Brent Crude Futures Breach $90 per Barrel After US-Iran Escalation"); revised the summary; revised the context note; reclassified it from market to energy-markets; updated the sourcing note; merged a duplicate entry into this one ("Brent Crude Climbs Above $90 a Barrel After US-Iran Strike Exchange"); added 3 sources: Fox News, CBS News. Why and evidence