---
title: "Brent and WTI Crude Reach Three-Week High Amid US-Iran Conflict Deadlock"
description: "Brent and WTI crude rose to a three-week high on August 20, 2026, amid a deadlock in the US-Iran conflict and supply disruptions through the Strait of Hormuz."
date: 2026-08-20T10:08:00.000Z
lang: en
url: https://xab.info/en/posts/brent-wti-crude-three-week-high-hormuz-strait-2026
tags: [oil-prices, brent, wti, strait-of-hormuz, iran-us-conflict, energy-market]
publisher: "XAB.info"
---

# Brent and WTI Crude Reach Three-Week High Amid US-Iran Conflict Deadlock

![Oil refinery worker turning a valve wheel against pipelines as Brent and WTI crude prices hit a three-week high amid the US-Iran standoff](https://xab.info/media/2026/08/20/neft-brent-wti-trekhnedelnyi-maksimum-ormuzskii-proliv-2026/neft-brent-wti-trekhnedelnyi-maksimum-ormuzskii-proliv-2026-1.webp)

## 🎯 Key Points

- Brent and WTI rose 1.3% on August 20, 2026, to $92.82 and $85.52 per barrel respectively, updating the maximum since July 24.
- The fifth consecutive day of growth is supported by sporadic attacks in the Middle East and a slowdown in shipping through the Strait of Hormuz.
- Media reports mention a hidden US shipping corridor along the coast of Oman, while Iran links the reopening of the strait to the implementation of the Islamabad Memorandum.

On August 20, 2026, global oil prices rose to levels not seen since late July, marking the fifth consecutive session of gains. As of Thursday morning, October-delivery Brent futures rose $1.20, or 1.3%, to $92.82 per barrel. The more active October contract for American West Texas Intermediate (WTI) crude added $1.13, or 1.3%, to $85.52 per barrel. Consequently, both key benchmarks reached their highest levels since July 24, a trend analysts attribute to lingering uncertainty regarding supplies from the Middle East.

### Geopolitical Driver: Pressure on the Strait of Hormuz

The primary factor supporting valuations remains the stalemate in the military confrontation between the US and Iran and its direct impact on hydrocarbon logistics. Shipping through the Strait of Hormuz — the key waterway for Middle Eastern oil exports — has noticeably slowed: most shipowners are avoiding the route due to a lack of clear signals regarding its restoration following the blockade imposed by the US during the conflict. This factor is creating a risk premium that is keeping prices in an elevated zone.

### Analyst Assessment: Growth Without New Momentum

"Oil prices remain elevated as the market is supported by sporadic attacks in the Middle East, but it lacks new momentum without significant escalation," said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, a division of Nissan Securities. According to him, the market is likely to maintain a gradual upward trend, given the uncertainty surrounding peace talks between the US and Iran, as well as tensions between the United Arab Emirates, Oman, and Iran. In other words, without a sharp escalation or, conversely, a breakthrough in negotiations, the dynamics will remain moderate.

### Secret Corridor and Trump's Claims of 'Replacing' the Strait

Against the backdrop of the official blockade, media reports indicate that the US military has quietly created an alternative shipping corridor in the Strait of Hormuz. According to available data, the operation has been ongoing for several weeks: 15 to 20 tankers have entered and exited the strait via a southern channel along the coast of Oman, with millions of barrels of oil transported through it daily. Simultaneously, US President Donald Trump publicly declared a 'replacement' for the Strait of Hormuz, stating that oil could be imported from 'a completely different part of the world,' and previously reiterated plans to declare the Strait of Hormuz US territory. Tehran, in turn, stated that the strait will not be reopened until the US fully complies with all conditions of the Islamabad Memorandum of Understanding and is preparing for a potential escalation not only in the strait area but in the wider region.

### Contradictory Data

There is a discrepancy in the figures regarding the American benchmark in the primary materials: one section states that September-delivery WTI futures changed by '-$5,' which contradicts the overall five-day upward trend and the subsequent report of the October WTI contract rising by $1.13 to $85.52. It is likely a typo or refers to a less liquid September contract, whereas the October contract serves as the market benchmark. Furthermore, Washington's public statements about 'replacing' the strait and plans to appropriate it contradict the factual situation: the strait remains blocked, and Iran firmly links its reopening to the implementation of the Islamabad Memorandum. These discrepancies in the versions of the parties make part of the political context conditional, although the fact of prices rising to a three-week high is confirmed by several independent sources.

## 🔍 Fact-Check Verification

- [Oil prices reach three-week high](https://www.rbc.ua/ukr/news/tsini-naftu-dosyagli-tritizhnevogo-maksimumu-1787219493.html) - Подтверждает рост Brent/WTI до трёхнедельного максимума и пятую сессию роста.
- [Brent crude cost exceeds maximum for the first time since July 2026](https://news.ru/world/stoimost-nefti-brent-ustanovila-maksimum-v-iyulya-2026-goda) - Согласуется с датой предыдущего максимума (24 июля) и уровнем Brent.
- [Oil prices update August maximum](https://korrespondent.net/business/economics/4904662-tseny-na-neft-obnovyly-maksymum-avhusta) - Формулировка «максимум августа» не противоречит, но акцент на месяце отличается от «трёхнедельного».
- [Crude updates three-week high amid Trump pressure on Iran](https://www.finversia.ru/publication/neft-obnovlyaet-trekhnedelnyi-maksimum-na-fone-davleniya-trampa-na-iran-176397) - Подтверждает связь роста с геополитикой и давлением США на Иран.

## ❓ FAQ

### Q: What oil prices were fixed on August 20, 2026?
**A:** October-delivery Brent rose 1.3% to $92.82 per barrel, and the October WTI contract rose 1.3% to $85.52 per barrel.

### Q: Why is oil getting more expensive?
**A:** The market is supported by sporadic attacks in the Middle East, a deadlock in the US-Iran conflict, and a slowdown in shipping through the Strait of Hormuz following the US-imposed blockade.

### Q: What do analysts say about future dynamics?
**A:** Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, expects a gradual upward trend without significant escalation, as the market lacks new momentum.

### Q: What is happening with the Strait of Hormuz?
**A:** Media reports mention a hidden US shipping corridor along the coast of Oman, while Iran states that the strait will not open until the US fully fulfills the conditions of the Islamabad Memorandum.