Oil Settles at Four-Week High as Hormuz Traffic Stays Slow

August 19, 2026

News summary: Reuters reported Brent settled at $91.62/bbl and WTI at $85.83/bbl, their highest closes since July 24, while only six commodity vessels crossed Hormuz on Tuesday.

Market context: The combination of a higher benchmark and low transit counts kept freight availability, insurer approval and delivery timing central to executable offers.