Fuel prices are rising in the global market. The price of Brent crude oil has reached close to $90 per barrel.
Fuel oil prices increase in the world market
Astronomy
Published: 12 August 2026, 08:19File photo
Fuel prices are rising in the global market. The price of Brent crude oil has reached close to $90 per barrel.Advertisement
According to Reuters data, Brent crude prices rose 72 cents, or 0.81 percent, to $89.63 a barrel on Wednesday morning. At the same time, the price of US West Texas Intermediate (WTI) crude rose 71 cents, or 0.85 percent, to $83.91 a barrel.
On Tuesday, Brent and WTI—the two benchmark crude oil contracts—ended the day up more than $1.
Reuters reported that on that day, the prices of both benchmarks reached their highest levels since July 31.
Oil prices had risen by about 5 percent on Monday, as expectations of a peace deal between the United States and Iran receded.
The rise in oil prices comes at a time when industry data showed a rise in US crude oil inventories. However, despite the increase in inventories, uncertainty over the prospects of a US-Iran peace deal has continued to push oil prices higher.
