The price of a barrel of oil registered a significant increase on August 31, 2026. The Brent barrel, widely recognized as a global reference, was traded at US$90.70 at around 9:25 am, marking an appreciation of 4.58% in 24 hours.
This increase in fuel prices is attributed to the intensification of clashes between the United States and Iran. On August 30, 2026, American forces attacked two Iranian Revolutionary Guard missile launchers located on the island of Larak, in the crucial Strait of Hormuz. This offensive represents the first direct US military action against Iran since June.
During the morning, the price of a Brent barrel remained at US$ 90.70 at around 9:25 am. The percentage increase in the last 24 hours was consolidated at 4.58%.
The Strait of Hormuz, a strategic maritime channel approximately 50 kilometers wide, connects the Persian Gulf with the Gulf of Oman and the Indian Ocean. Historically, this route was responsible for the transit of around 20% of all oil and gas traded globally before the conflicts.
The US offensive came just three days after an operation concluded by the country to remove sea mines from important shipping routes in the area.
In response, on the night of August 30, 2026, Iran’s Revolutionary Guard carried out airstrikes against two American military bases located in Jordan.
King Hussein and Al Azraq installations were targets of bombings. The Iranian Revolutionary Guard declared that the attack resulted in the deaths of several military personnel and civilians. However, US State Department sources indicated that the Iranian missiles were successfully intercepted.
