Brent Crude Nears $89.40 as UAE Accuses Iran of a Third ADNOC Tanker Attack

According to a Reuters report published by Khabar Online on Monday, 26 Mordad 1405 (August 17, 2026), Brent crude rose about one percent to 89.40 dollars a barrel, trading most recently up 72 cents, or 0.81 percent, at 89.20 dollars. US West Texas Intermediate crude rose 44 cents to 82.83 dollars a barrel. Both benchmarks had risen more than 5 percent last week following reports of attacks on tankers managed by Abu Dhabi National Oil Company (ADNOC) in the Strait of Hormuz and an attack on a Saudi Aramco refinery.

The UAE's state news agency, WAM, said the UAE has accused Iran of attacking a third ADNOC managed tanker, which was transiting the Strait of Hormuz on Friday, 23 Mordad (August 14). The UAE had previously held Iran responsible for two other incidents involving ADNOC tankers on the evening of Thursday, 22 Mordad. Data from ship tracking firm Kepler showed maritime traffic through the Strait of Hormuz fell sharply over the weekend, with only five cargo ships crossing the strait on Saturday.