Overnight Market Brief – 17 August 2026
Brent held near USD 87.2/bbl, tracking about 4% weekly gains, after the US said its naval blockade of Iran could continue indefinitely as ceasefire talks stalled. Two Abu Dhabi tankers were attacked transiting the Strait of Hormuz, with the UAE blaming Iran. Gains offset a record US crude inventory build and weak demand forecasts from OPEC and the International Energy Agency.