—Oil: Brent crude was trading near US$79.6 a barrel and West Texas Intermediate near US$75.2, having fallen back from the highs reached after the outbreak of the Iran conflict. South Africa’s rand has clawed back most of last month’s losses, trading near R16.33 to the dollar as Brent crude slips below US$80 and gold holds above US$4,200. Rand Near Its Strongest in a Month as Brent Slips Below US$80. Browse the directory →Why oil moves the rand at allSouth Africa buys almost all of its crude oil and a large share of its refined fuel abroad. The rand traded at about R16.33 to the dollar on 6 August 2026, near its strongest level in almost a month.