United States API Crude Oil Stock Change

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Brent crude rose to around $108.5 a barrel on Tuesday, its highest level in four months, after Saudi Arabia reportedly cancelled some shipments following drone attacks that forced the closure of its key export pipeline. Saudi Arabia reportedly informed European customers that some September deliveries were cancelled, while oil loadings at Yanbu were suspended. Meanwhile, Iran-backed Houthi militants renewed strikes on Saudi Arabia this week. Security in the Strait of Hormuz remains volatile, with at least two tankers attacked since Saturday. Commodity vessel traffic through the strait fell to four on Monday from 10 a day earlier, Kpler data showed. In Libya, the national oil company suspended operations at two oilfields and a pumping station amid protests. Russia also struck petrol stations in Kyiv and Ukraine targeted a Russian oil refinery, despite US President Trump’s announcement that both sides had agreed to halt attacks on each other’s energy infrastructure.

Brent Rally Intensifies on Middle East Risks

Crude oil rose past $105.5 a barrel on Tuesday, its highest level in four months, after Saudi Arabia reportedly cancelled some shipments following drone attacks that forced the closure of its key export pipeline. Saudi Arabia reportedly informed European customers that some September deliveries were cancelled, while oil loadings at Yanbu were suspended. Meanwhile, Iran-backed Houthi militants renewed strikes on Saudi Arabia this week. Security in the Strait of Hormuz remains volatile, with at least two tankers attacked since Saturday. Commodity vessel traffic through the strait fell to four on Monday from 10 a day earlier, Kpler data showed. In Libya, the national oil company suspended operations at two oilfields and a pumping station amid protests. Russia also struck petrol stations in Kyiv and Ukraine targeted a Russian oil refinery, despite US President Trump’s announcement that both sides had agreed to halt attacks on each other’s energy infrastructure.

Oil Rally Intensifies on Middle East Risks

US gasoline futures rose above $3.45 a gallon, rising to an eight-week high, amid a tightening outlook for energy supply from the Middle East. Attacks last week by Iran-backed Houthi rebels shut down a crucial crude pipeline in Saudi Arabia that bypasses the Strait of Hormuz, which remains under blockade. Since the start of the US-Iran war, the crack spread has surged from the teens to above $60, reflecting demand for refined products outpacing refiners’ ability to produce them. Refiners had long warned about the impact of depleting crude reserves, and although operating near full capacity, delays to non-essential work have compounded the maintenance backlog ahead of seasonal fall maintenance, posing an ongoing threat to refined-product supplies. While UK authorities fear the pipeline could remain shut for as much as six weeks, US Energy Secretary Wright told reporters that it would reopen "very soon".

Gasoline Rises to Eight-Week High

Paraguay’s Consumer Confidence Index fell 3.32 points to 39.67 in August 2026 from July, marking its lowest reading since May. The Economic Situation Index decreased to 29.92 from 32.42, while the Economic Expectations Index fell to 49.42 from 53.55. Meanwhile, consumers’ willingness to purchase durable goods declined, as did their assessment of saving possibilities.

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