International oil benchmark nears $90 a barrel

Published August 12, 2026

Oil prices have risen once again after attacks on two ships reinforced worries about disruptions to Middle East supplies, Reuters reports.

Brent futures were up 35 cents, or 0.4 per cent, at $89.26 a barrel by 1219 GMT (5:19pm PKT), heading for a sixth day of gains. US West Texas Intermediate (WTI) crude rose by 57 cents, or 0.7pc, to $83.77, heading for a fifth daily gain.

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