Brent Settles at $94.39 as Hormuz Transits Fall to Seven

August 21, 2026

News summary: Reuters reported Brent settled at $94.39/bbl and WTI at $87.06/bbl, while only seven commodity vessels crossed Hormuz on Thursday and major Middle East supply remained curtailed.

Market context: Buyers still needed to compare pipeline, shuttle and non-Gulf alternatives on grade quality, voyage cost and actual loading certainty.