EnergyReader · 2026-08-06 05:42

Iran War Drains Oil Buffers as ICE Brent Falls to $79 on Hormuz Recovery

By EnergyReader Newsroom · August 6, 2026

ICE Brent crude front-month was trading at $79.13 a barrel on Thursday (2026-08-06), extending a retreat from $88.00 recorded on Friday (2026-07-24), as improved crude shipments through the Strait of Hormuz and a scheduled OPEC+ production increase continued to outweigh fears of fresh disruption from the ongoing U.S.-Iran conflict.

This piece has moved into our archive. We keep the full historical record — pricing, storage, weather, positioning — for our own research, and license access to it separately. Contact us about archive access →

What to watch Track the live series behind this story — history, latest readings and our coverage.

ICE Brent crude futures, front-month → OPEC reference basket → Strait of Hormuz oil/LNG transit flows → China crude oil imports →

Connected coverage Stories linked to Brent through the market graph: same hub, spread, route or driver.

Shell Warns Hormuz Supply Buffers Near Their Limit as Brent Tops $100 3h ago · Brent same market Fed Downplays Oil Shock as Triple-Digit Brent Keeps Rate-Hike Bets Elevated 4h ago · Brent same market Eneos and Idemitsu Pay $38 Premiums for Oman Crude as Saudi Pipeline Stays Shut 12h ago · Dubai Crude shared: Saudi Crude Production … WTI Crude Twice Sold Peace Deals That Repriced Higher Each Time 11h ago · WTI via Global Crude Balance U.S. SPR Falls to Lowest on EIA Records While Cushing Crude Stocks Test Operational Floor 21h ago · WTI via Global Crude Balance Oil Above $103 Fails to Break U.S. Consumer Spending as Fed Hike Bets Climb 32m ago · United States same desk

Get this in your inbox

Daily briefings for commodity traders

Related Markets

Brent Crude Oil Strait of Hormuz OPEC+ OPEC