Markets · Commodity markets, August 31

The Mideast energy shock led today's tape

Monday, August 31, 2026. From GEO's evening brief, after the close.

WTI settled at $85.76/bbl, up 2.83%, and Brent at $90.49/bbl, up 2.71%, with the Strait of Hormuz effectively closed for six months and no de-escalation in sight. ULSD jumped 3.18% to $4.4953/gal on tightening European supply, while gasoline diverged, falling 1.52%. Precious metals extended their slide, with gold down 1.07% to $4,481.50/oz.

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