Oil hits 3-week high on Middle East supply concerns amid war impasse — Live Feedhttps://www.live-feeds.com/feed/oil-hits-3-week-high-on-middle-east-supply-concerns-amid-war-impasseContinuously updated, source-cited coverage. Oil prices hit 3-week high as US imposes sweeping sanctions on Iranhttps://www.live-feeds.com/feed/oil-hits-3-week-high-on-middle-east-supply-concerns-amid-war-impassehttps://www.live-feeds.com/feed/oil-hits-3-week-high-on-middle-east-supply-concerns-amid-war-impasse#u48032Tue, 25 Aug 2026 07:16:15 +0000Brent Crude rose over 2 per cent to approximately $93.80 a barrel, marking its highest price since July 24. Oil prices overall have gained over 6 per cent as the US implements new sanctions to eliminate Iran's remaining economic lifelines. Treasury Secretary Scott Bessent stated Washington aims to cut off these lifelines and urged other nations to participate in the pressure campaign. This economic escalation follows the August 17 expiration of a 60-day memorandum, leaving talks between Washington and Tehran at an impasse.Why it mattersThe current price surge stems from a breakdown in dip Oil hits three-week high as US-Iran ceasefire expireshttps://www.live-feeds.com/feed/oil-hits-3-week-high-on-middle-east-supply-concerns-amid-war-impassehttps://www.live-feeds.com/feed/oil-hits-3-week-high-on-middle-east-supply-concerns-amid-war-impasse#u45784Fri, 21 Aug 2026 06:26:06 +0000Oil prices reached a three-week high and advanced for a fourth consecutive day due to supply concerns in the Middle East. Markets are reacting to an impasse in the war between the US and Iran following the expiration of a ceasefire. Uncertainty centers on the stability of exports through the Strait of Hormuz and a trade freeze involving the UAE. Prices continue to climb as no progress is reported regarding the Hormuz standoff.Why it mattersThe Strait of Hormuz is a critical transit point for global oil exports. A prolonged military stalemate or trade disruptions in this region threaten global