Hormuz Attacks Push Oil Toward $100 Despite US Crude Build

Brent heads toward a 5% weekly gain as stalled US-Iran talks and Hormuz attacks push oil prices toward $100.

Friday, August 14, 2026 Crude oil prices are set to post a 5% weekly gain after this week quashed hopes (for the umpteenth time) of a negotiated US-Iran settlement, with Tehran ratcheting up its strikes on ships attempting to transit the Strait of Hormuz, whilst the White House doubled down on its maritime blockade of Iranian crude.