Markets· August 16, 2026 at 01:00 p.m.
Oil Prices Remain Stable Despite Middle East Tensions and Strait of Hormuz Disruptions
Key takeaways
- Oil prices have remained stable despite Middle East tensions
- Global oil demand is decreasing
- Iran-US talks have stalled
Despite ongoing tensions between the US and Iran, oil prices have remained relatively stable this month, with Brent crude down just 1.7% and West Texas Intermediate down 2.7%. This is not due to a resolution in the Middle East or an increase in traffic through the Strait of Hormuz, but rather a decrease in global oil demand. According to the International Energy Agency, world oil demand could fall by 1.6 million barrels a day this year, more than previously expected.
