Oil Price Today: Crude Dips Below $90 Despite Strait of Hormuz Deadlock Amid OPEC, IEA Demand Cuts

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Energy

13 August 2026 at 10:07 am

Oil Price Today: Crude Dips Below $90 Despite Strait of Hormuz Deadlock Amid OPEC, IEA Demand Cuts

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Summary

Crude oil prices dipped below $90 despite the Strait of Hormuz deadlock, as OPEC and the IEA both cut their global oil demand growth forecasts for 2026.

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