Oil prices rise as crude futures gained on Friday after US President Donald Trump threatened economic sanctions against Iran’s trading partners, increasing concerns over potential supply disruptions.
International benchmark Brent crude futures settled at $94.39 a barrel, up 61 cents or 0.65%, while US West Texas Intermediate (WTI) crude futures closed at $87.06 a barrel, rising 23 cents or 0.26%.
The gains came as markets assessed the potential impact of tighter supply conditions if sanctions affect Iran’s trade flows.
Iran Condemns Fresh U.S Sanctions Plan
– U.S set to target Iranian trading partners
– New U.S sanctions spark concerns in China
– Strait of Hormuz traffic plummets
– Hormuz crisis deepens as oil prices rise@srinjoyc1 joins @aakaaanksha with more details. pic.twitter.com/BHONWTqKRS
— TIMES NOW (@TimesNow) August 23, 2026Read: Iran Condemns New US Sanctions Ahead of Monday Announcement
Brent crude increased 6.39% during the week, while WTI gained 5.66%, with both benchmarks reaching their highest levels since July 24 in the previous session.
The possible sanctions measures or their expected implementation timeline.
