İran ve Hürmüz riskleri devam ederken petrol fiyatları haftalık güçlü yükselişlerin ardından istikrarlı bir seyir izledi

Oil prices steady after strong weekly gains as Iran and Hormuz risks persist

Mon, August 17, 2026 at 12:18 PM GMT+3 2 min read

• CL=F +0.62%

Oil prices traded in a narrow range on Monday after posting strong gains the previous week, with ongoing uncertainty surrounding U.S.-Iran relations and disruption in the Strait of Hormuz continuing to support crude markets.

Brent oil futures were up 0.1% at $88.62 a barrel by 00:42 ET (04:42 GMT), while West Texas Intermediate crude futures slipped 0.1% to $81.37 a barrel.

Oil holds onto weekly advance as geopolitical tensions remain elevated

Brent gained more than 5% last week as hostilities between the U.S. and Iran continued and Tehran targeted additional energy infrastructure across West Asia.

Shipping through the Strait of Hormuz also slowed further following Iranian attacks on tankers in the region, while the U.S. maintained its naval blockade against Tehran.

Over the weekend, Iran Foreign Minister Abbas Araqchi reiterated Tehran's position that it was not engaged in direct negotiations with the U.S., while Washington threatened further economic measures against Iran.

Tensions also intensified around the Red Sea, where Yemen's Iran-backed Houthis continued attacks on vessels transiting the Bab al-Mandab strait. The additional disruption raised concerns about further instability across important West Asian energy shipping routes.

Supply risks have so far outweighed a weaker demand outlook from major energy organisations. Both the Organization of Petroleum Exporting Countries and the International Energy Agency lowered their forecasts for global oil demand in 2026 last week.

Diesel becomes a key pressure point in tightening fuel markets

ANZ analysts said refined products have been affected more severely than crude oil itself by the conflict in West Asia.

They noted that diesel in particular had "emerged as the tightest segment of the petroleum complex," as supplies were squeezed by a combination of production disruptions, refinery outages and restrictions affecting shipping.

ANZ said refinery disruptions across the Persian Gulf had reduced diesel output and exports at a time when global demand for the fuel remained resilient.

Pressure on supplies has also been intensified by the continuing conflict between Russia and Ukraine, with Kyiv carrying out further attacks against Russian oil infrastructure.

The combination of geopolitical disruption, refinery constraints and persistent demand could leave diesel markets facing even tighter conditions in the months ahead.

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