Oil Prices and the US–Iran War: Why Brent Is Near $86 and WTI Near $81
Oil prices are easing as diplomatic talks reduce immediate fears over the Strait of Hormuz, but the US–Iran war continues to keep a geopolitical premium in crude markets.
Oil prices are easing as diplomatic talks reduce immediate fears over the Strait of Hormuz, but the US–Iran war continues to keep a geopolitical premium in crude markets.
Explore the latest oil price trend as of December 2, 2026, with Brent at $61.01 and WTI at $57.55 per barrel. Understand why prices are stabilizing, what’s driving markets, and what the near-term outlook means for the global economy.