Markets · Commodity markets, August 17

Middle East escalation drove the tape

Monday, August 17, 2026. From GEO's evening brief, after the close.

WTI settled at $84.50/bbl, up 2.55%, and Brent at $90.87/bbl, up 2.65%, after Iran's claimed seizure of a UAE-linked tanker in the Strait of Hormuz. Refined products ran harder, with ULSD up 3.60% to $4.4371/gal as Reuters reports the US diesel crack topped $100/bbl for the first time. Gold gained alongside rising yields, settling at $4,473.70/oz.

Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.