Markets•62 reports
62DOOM SCORE
Oil prices reach a three-week high amid Middle East supply concerns
IranChinaRussiaIndia
First seen: Aug 18, 2026, 10:01 PM UTCUpdated: Aug 23, 2026, 4:16 AM UTC
WHAT HAPPENED
Oil prices have risen to their highest level in about three weeks as an impasse involving the Iran war and the Strait of Hormuz fuels concerns about Middle East supplies. Supertanker prices have also reportedly reached record highs, while China has increased imports of Russian crude.
SO WHAT?
Potential disruption to Middle Eastern oil flows and sharply higher tanker costs could create broader energy-market and supply-chain pressures.
FOR ME
Impact on Switzerland
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MARKETS
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COVERAGE
Reports behind this event
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asiaone.comen
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theglobeandmail.comen
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