Brent Crosses $90 as Strait of Hormuz Tensions Rise: Iran Market Pulse, Midday Tuesday, Aug 18, 2026; TEDPIX Hits 5.914 Million

Lead

Brent crude jumped more than 2.5% on the evening of Monday, 26 Mordad 1405 (August 17, 2026), crossing $90 a barrel for the first time in weeks, and stood near $91 by 11am today, Tuesday, 27 Mordad (August 18, 2026). According to TGJU, Brent's intraday high yesterday reached $91.08, a level consistent with Oilprice.com's reading of $90.77. The jump came as rhetoric between Iran and the United States over the Strait of Hormuz intensified: per Reuters, Iran has shifted its policy from defensive to "fully offensive," setting a "few weeks" deadline for the US to fully implement their understanding. The UK Maritime Trade Operations agency (UKMTO) also reported a fresh maritime incident in the Strait of Hormuz this morning. In the same hours, Tehran's TEDPIX rose 0.28% by 11:09am today to a fresh record of 5,914,672 points, while the dollar and domestic gold and coin prices stayed essentially calm. Today's picture: a geopolitical shock in the global oil market alongside relative calm in Iran's domestic currency and gold markets.

Today's Snapshot

Today's Top Headlines

• Brent crude crossed $90 a barrel on Monday evening, up more than 2.5% amid Strait of Hormuz tensions (TGJU, Aug 17 evening).
• Reuters reported, citing a senior Iranian official, that Iran has shifted its policy from defensive to "fully offensive," giving the US a "few weeks" deadline to implement the understanding (EcoIran citing Reuters, Aug 17).
• The 60-day Islamabad memorandum between Iran and the US expired yesterday without extension; asked about extending it, Trump said "no" (Donya-e-Eqtesad and EcoIran, Aug 17).
• Trump, in an interview with Fox News, warned Oman not to get in the way of US efforts on the Strait of Hormuz and spoke of bombing the country; the IRGC called his claim of a secret communication channel a "lie" (EcoIran citing The Hill, Aug 17).
• The UK Maritime Trade Operations agency (UKMTO) reported a fresh maritime incident in the Strait of Hormuz this morning, Tuesday (Donya-e-Eqtesad and EcoIran, Aug 18).
• In a predawn Tuesday phone call, Erdogan urged Trump to make full use of diplomacy with Iran and said Ankara is ready to take part in that process (Donya-e-Eqtesad citing Reuters, Aug 18).

Currency

The free-market dollar trades today near 186,500 toman; per TGJU, the rate is essentially unchanged from yesterday, with today's range between 185,280 and 186,820 toman. Sahmino's own live data confirms the same level. On the official side, the Iran Currency and Gold Exchange Center's sell rate rose 0.22% this morning to 156,077 toman, with the buy rate at 154,672 toman; the gap between the free-market dollar and the official rate remains near 30,000 toman. Today's calm in the currency market stands in clear contrast to the simultaneous shock in the global oil market, a sign that Hormuz tensions have not, at least so far, spilled directly into Iran's domestic currency market.

Gold and Coin

Unlike oil, global gold eased today: the spot ounce fell to $4,402 by 11am, down about 0.29%, a notable divergence from oil's simultaneous jump. Domestically, per TGJU, the Emami coin trades today with no notable daily change, near 190,510,000 toman; Sahmino's own live data confirms the same level. Versus last week (the Tuesday before), the Emami coin stands about 0.79% higher. The Emami coin premium, last recorded Monday evening near 3,725,000 toman, has no fresher reading yet today and should be tracked in this afternoon's or tomorrow's pulse.

Stocks and Farabourse

Bourse and Farabourse are two separate markets with two separate indices. Tehran's TEDPIX rose 16,701 points (0.28%) by 11:09am today versus yesterday's close of 5,897,950, reaching a fresh record of 5,914,672 points, a record, but at a far calmer pace than yesterday's 2.3% jump. The equal-weight index rose 0.67% to 1,675,739 points, meaning today's gains are not confined to large caps either. Bourse trade value has reached about 24,262 billion toman so far today. Farabourse's own index rose 159 points (0.33%) to 47,774, with Farabourse trade value reaching about 156,984 billion toman so far today, still mostly from its bond and fund market rather than equities. Today's final individual versus institutional money flow will not be known until the session closes; yesterday (Aug 17) individual money flowed net into the bourse board, a trend today's gains in names like Iran Khodro, Foolad and Tamin can be read as continuing. Among today's heavily traded names, Iran Khodro (+2.93%), Foolad (+2.99%) and Tamin (+2.97%) show buying spread across industries, automotive, steel and investment, on a day when the global oil market faces a geopolitical shock.

Crypto

Bitcoin trades today near $64,315 by 11am, down a marginal 0.06%, essentially unchanged. On a day when oil faces a geopolitical shock, the crypto market has shown no notable reaction. Toman-Tether trades close to the free-market dollar, the usual gap these days.

Iron and Steel

The Iran Mercantile Exchange's latest settlement for A3 rebar (sizes 14 to 20) was 64,203 toman per kilogram at the August 16 session. In the open market, Aryan Foolad's A3 rebar (size 14) priced today at 69,550 toman per kilogram at the factory gate, unchanged from yesterday and about 8% above the exchange's latest settlement, the usual gap between the exchange's official price and factory-gate market pricing these days. On the bourse, Foolad (Mobarakeh Steel) rose 2.99% today, among the session's leading names, extending its recent rally since reopening after a five-month trading halt.

Vehicles

In the stock market, Iran Khodro's share rose 2.93% today, moving with the broader market among the session's leaders. In the zero-kilometer car market, no notable price change has been reported versus recent days, and the market remains described as sluggish through Mordad. The gap between the 400 million toman worn-out-car replacement loan and the price of the cheapest new car in the market remains wide.

Building Materials

On the commodity exchange, Type 2 (42.5) bagged cement settled at its latest session (Aug 17) at 38,359 toman per kilogram, equivalent to about 192,000 toman for a 50 kilogram bag. In Tehran's retail market, a 50 kilogram bag of Type 2 cement from Tehran Cement still prices at 291,000 toman today and Abyek Cement at 289,000 toman; this level has held for more than a week, and per Sahmino's earlier reporting, this market's Mordad month jump has stalled.

Regional and Global View

Today's main global story is the Strait of Hormuz and oil. Brent jumped more than 2.5% Monday evening to cross $90 and stands near $91 today; WTI, per TradingEconomics, trades near $85.1 today, up about 0.7%. The jump came alongside intensifying US-Iran rhetoric: Reuters, citing a senior Iranian official, reported Iran has shifted its policy from defensive to "fully offensive," giving the US a "few weeks" deadline to fully implement their understanding; the 60-day Islamabad memorandum itself expired yesterday without extension, and Trump said he is not seeking to extend it. Trump also warned Oman over its mediation on reopening the Strait of Hormuz and spoke of bombing the country; the IRGC denied his claim of a secret communication channel. This morning the UK Maritime Trade Operations agency reported a fresh maritime incident in the Strait of Hormuz, with no further details released yet. Among diplomatic efforts, Erdogan, in a predawn Tuesday call, urged Trump to make full use of diplomacy with Iran. The US Dollar Index (DXY) trades today near 99.65, essentially unchanged, and the Turkish lira also held near 47.92 to the dollar, meaning that, so far today, the shock has been largely confined to the oil market rather than major global currencies.

Takeaway

Today was oil and the Strait of Hormuz's day, not the bourse's and not the dollar's. Brent jumped more than 2.5% to cross $90 and US-Iran rhetoric over Hormuz reached a fresh peak, while Tehran's bourse reached a fresh record at a calmer pace than yesterday, and the domestic dollar and gold stayed indifferent through the same hours. If there is one number to remember from today, it is this: Brent went from $88 yesterday at noon to above $90 tonight.

What to Watch Today

Watch whether more details emerge on this morning's reported maritime incident in the Strait of Hormuz, and whether Brent holds above $90 through the day or gives back part of last night's jump. Also watch whether Tehran's TEDPIX keeps its calmer pace of gains through the close of trading at 12:30, and whether the Erdogan-Trump call or Oman's mediation leads to a resumption of US-Iran talks in the coming days. Following up on yesterday's Sahmino report on the TEDPIX record, the Sahmino market calendar is updated for capital-market events.