COMMODITY
Crude oil futures edge higher on Wednesday
Aug-13-2026

Crude oil futures ended slightly higher on Wednesday as investors assessed the prospects of a deal to reopen the Strait of Hormuz. Meanwhile, the International Energy Agency’s monthly report indicated that the global oil market faces a shortfall of 1.8 million barrels per day this quarter as the conflict in the Middle East continues. However, the Organization of the Petroleum Exporting Countries (OPEC) predicted that global oil demand would grow by 600,000 barrels per day year-on-year in 2026.

Benchmark crude oil futures for September delivery increased by $0.07, or 0.08%, to settle at $83.27 a barrel on the New York Mercantile Exchange. Brent crude for October delivery was up by $0.07, or 0.08%, to settle at $88.98 a barrel on the New York Mercantile Exchange.


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