Oil Price Today (August 31): Crude oil reclaims $90 as fresh US attacks dim peace deal hopes. What are exp
- Posted on August 31, 2026
- By Business News Today
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- 1 min read
In brief
Geopolitical tensions in the Middle East have escalated as crude oil prices surge past the $90 mark following renewed military confrontations. Recent U.S. operations targeting Iranian defensive systems on Larak Island represent a significant escalation, with Tehran retaliating through strikes on American installations in Jordan. These developments underscore growing regional instability and threaten fragile peace negotiations, potentially impacting global energy markets and commodity pricing in the coming weeks.
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Oil Price Today (August 31): Crude oil reclaims $90 as fresh US attacks dim peace deal hopes. What are exp
U.S. forces on Sunday struck two launchers on Iran's Larak island in the Strait of Hormuz. It was the first known American strike on the Gulf nation since late July. Iran responded by attacking two U.S. air bases in Jordan, Iranian media reported on Monday, citing Iran's Revolutionary Guards.
