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Monday, 17 August 2026dailybeirut.com
Economy
Brent crude exceeded $91 per barrel for the first time since 31 July, coinciding with reports that Iran detained a UAE oil tanker near Qeshm Island in the Strait of Hormuz.
Brent crude futures rose above $91 per barrel on Monday, marking the first time the benchmark price has crossed that threshold since 31 July. The move followed news reports of an Iranian action involving maritime traffic in the Strait of Hormuz.
According to the Iranian Fars News Agency, released on Monday evening, Iranian authorities detained a United Arab Emirates oil tanker in the Strait of Hormuz. The agency stated the vessel was held for violating Iranian “transit arrangements”.
Fars reported that the UAE tanker was stopped in proximity to Qeshm Island. No further operational or legal details about the detention were provided in the agency’s statement.
