Brent steadies after drop, Urals trades below $87

Global crude oil prices stabilized on Tuesday, August 25, steadying after sliding over 2% during the previous session as traders weighed newly expanded US sanctions targeting Iran against broader Middle East supply disruption risks. 

Brent crude futures edged up 27 cents to $92.44 a barrel, while US benchmark West Texas Intermediate (WTI) rose 37 cents to $85.38 a barrel. Meanwhile, Russian Urals crude was changing hands near $86.51 a barrel, compared to $85.87 recorded on August 21.

Market caution persists over potential shipping bottlenecks across the Strait of Hormuz, a critical transit chokepoint carrying roughly a fifth of global oil flows. 

N.Tebrizli

⁠