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Oil prices rise amid geopolitical tensions
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Shafaqna English | International Shia News & Fatwas
Shafaqna English- On Wednesday(12 Aug 2026), oil and gold prices saw gains, while regional stock markets moved slightly higher but with caution, as geopolitical tensions increased just before the release of important U.S. inflation data.
U.S. crude increased by 0.89% to reach $83.94 per barrel, and Brent crude rose to $89.60 per barrel, a 0.78% gain for the day.
On Tuesday, both benchmarks closed more than a dollar higher, which was their highest closing level since July 31, and they continued to build on gains following a roughly 5% jump on Monday.