‎Oil prices edge higher, set for weekly gains

‎<p><img src="https://argaamplus.s3.amazonaws.com/ff70c941-3e8c-42cc-894d-442a6e351e16.png" ></p> <p class="ckeCaption" >Oil drilling rigs</p> <hr> <div data-olk-copy-source="MessageBody" > <p>Oil prices edged higher during trading today, Aug. 14, supported by US threats to impose an indefinite naval blockade on Iran, renewing concerns over crude supplies.</p> <p></p> <p>The two oil benchmarks are on track for weekly gains of around 4%, despite falling more than 2% in the previous session, according to Reuters.</p> <p></p> <p>In an interview with Newsmax, US Treasury Secretary Scott Bessent said: “Watch this space for more announcements coming next week” as US implement economic isolation on Iran “like the world has never seen before”.</p> <p></p> <p>Markets are also awaiting Baker Hughes’ US oil and gas rig count later today for further indications on the outlook for American supplies.</p> <p></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong><span >Change in Prices of Futures Contracts for the Two Benchmark Crudes</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Crude</span></strong></p> </td> <td > <p align="center" ><strong><span >Price (USD/barrel)</span></strong></p> </td> <td > <p align="center" ><strong><span >Change (USD)</span></strong></p> </td> <td > <p align="center" ><strong><span >Percentage (%)</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Brent</span></strong></p> <p ><strong><span >(October delivery)</span></strong></p> </td> <td > <p align="center" ><span >87.16</span></p> </td> <td > <p align="center" ><span >+0.09</span></p> </td> <td > <p align="center" ><font color="#00b050" face="arial, sans-serif">+0.10%</font></p> </td> </tr> <tr > <td > <p ><strong><span >NYMEX</span></strong></p> <p ><strong><span >(September delivery)</span></strong></p> </td> <td > <p align="center" ><span >81.39</span></p> </td> <td > <p align="center" ><span >+0.14</span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >0.15%+</span></span></span></p> </td> </tr> </tbody> </table> <div><em class="ckeCaption">*At 8:00 a.m. Makkah time.</em></div> </div>

Publication

Argaam - Main News · Trade Publication

Published

14th August 2026

Original report

argaam.com

ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.