Oil prices swing between war risk and diplomacy after six months of Iran standoff
The National · 28 Aug 2026

Oil prices swing between war risk and diplomacy after six months of Iran standoff

Crude oil prices have swung sharply over six months of war in Iran, rising almost two-thirds to nearly $120 a barrel before falling back as diplomatic efforts eased fears of a prolonged disruption to global supplies. The result has been a market repeatedly pulled between geopolitical risk and hopes


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