Oil prices surge following US-Iran ceasefire expiration
Global oil prices, specifically Brent crude, have risen above $90 a barrel for the first time since late July. This market volatility follows the expiration of a ceasefire between the United States and Iran, coupled with aggressive rhetoric from the US President demanding Tehran's surrender. The geopolitical tension in the Middle East is driving concerns over energy supply stability and potential further escalation in the region.
Date: August 18, 2026
Location: Middle East, Iran
Conflict: US-Iran Conflict
Category: other
Severity: HIGH
Source: The Guardian