LIVEMarkets rolling coverageStarted: August 12, 2026, 4:00 AM EDTUpdated: August 12, 2026, 6:11 AM EDT Brent Jumps Past $89 as U.S.-Iran Dispute Escalates Over Strait of Hormuz August 12, 2026, 6:11 AM EDT. Brent Crude oil climbed past $89 a barrel amid U.S. and Iranian disputes regarding Strait of Hormuz control. The U.S. reports traffic is proceeding as usual, while Iran insists the strait is blocked until its demands are met and the conflict ends. WTI gained 0.94% to reach $83.90 as supply risks persisted. The ongoing standoff between the U.S. and Iran continues to threaten the security of the