Oil Prices Volatile

2026-09-02 15:21 By Joana Taborda 1 min. read

Crude oil swung between small gains and losses to trade near $90 a barrel on Wednesday, following a two-session rally that had lifted prices to a six-week high.

Traders continued to weigh elevated supply risks stemming from ongoing hostilities in the Middle East against signs that crude supplies were still reaching the market.

US Energy Secretary Chris Wright said 17 million barrels of oil transited the Strait of Hormuz on Monday, the highest daily volume since the war began.

Kpler data showed that 4 commodity vessels transited Hormuz on Tuesday, down from 10 on Monday.

The US carried out further strikes on Iran and Washington threatened more devastating attacks.

Iranian media reported strikes on multiple targets near the Strait of Hormuz and Iran said it had targeted US assets in Bahrain, Jordan, Kuwait and Iraq.

The latest attacks, which began early this week and were the first in nearly a month, have complicated efforts to end the conflict.



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Oil Prices Volatile
Crude oil swung between small gains and losses to trade near $90 a barrel on Wednesday, following a two-session rally that had lifted prices to a six-week high. Traders continued to weigh elevated supply risks stemming from ongoing hostilities in the Middle East against signs that crude supplies were still reaching the market. US Energy Secretary Chris Wright said 17 million barrels of oil transited the Strait of Hormuz on Monday, the highest daily volume since the war began. Kpler data showed that 4 commodity vessels transited Hormuz on Tuesday, down from 10 on Monday. The US carried out further strikes on Iran and Washington threatened more devastating attacks. Iranian media reported strikes on multiple targets near the Strait of Hormuz and Iran said it had targeted US assets in Bahrain, Jordan, Kuwait and Iraq. The latest attacks, which began early this week and were the first in nearly a month, have complicated efforts to end the conflict.
2026-09-02
Crude Oil Pauses Advance
Crude oil edged down below $90 a barrel on Wednesday, pausing a two-session rally that had lifted prices to a six-week high. Traders continued to weigh elevated supply risks stemming from ongoing hostilities in the Middle East against signs that crude supplies were still reaching the market. The US carried out further strikes on Iran and Washington threatened more devastating attacks. Iranian media reported strikes on multiple targets near the Strait of Hormuz and Iran said it had targeted US assets in Bahrain, Jordan, Kuwait and Iraq. However, US Energy Secretary Chris Wright said 17 million barrels of oil transited the Strait of Hormuz on Monday, the highest daily volume since the war began. Meanwhile, US President Trump said he “couldn’t care less” whether Iran signs an agreement to reopen the Strait of Hormuz. The latest attacks, which began early this week and were the first in nearly a month, have complicated efforts to end the conflict.
2026-09-02
Crude Oil Hovers Around $90
Crude oil hovered around $90 a barrel on Wednesday, close to 6-week highs, following a rally over the previous two sessions. Hostilities in the Middle East remained elevated, with the US carrying out further strikes on Iran and Washington threatening more devastating attacks. Iranian media reported strikes on multiple targets near the Strait of Hormuz and Iran said it had targeted US assets in Bahrain, Jordan, Kuwait and Iraq. Meanwhile, US President Trump said he “couldn’t care less” whether Iran signs an agreement to reopen the Strait of Hormuz. The latest attacks, which began early this week and were the first in nearly a month, have complicated efforts to end the conflict and raised the risk of further disruptions to oil supplies. However, US Energy Secretary Chris Wright said 17 million barrels of oil transited the Strait of Hormuz on Monday, the highest daily volume since the war began.
2026-09-02