Oil Prices Hold at Highest Level in Over a Week

Crude oil prices held steady Monday at their highest point in over seven days, following diminished expectations of a diplomatic breakthrough between the United States and Iran aimed at resolving their conflict and restoring full navigation through the Strait of Hormuz.

By 09:32 Moscow time, September-delivery futures for U.S. benchmark West Texas Intermediate (WTI) crude climbed 0.32% to $82.39 per barrel.

October-delivery futures for international benchmark Brent crude rose 0.23% to $87.39 per barrel — marking the first time Brent contracts traded above $87 per barrel since early August 2026.

Both benchmark crudes surged more than 5% on Monday, reaching their highest levels since July 31, 2026.