Crude Oil Price Today August 21, 2026: Brent at $93.82 Per Barrel on Track for Second Weekly Rise as US-Iran Conflict Crimps Supply

Crude oil price today: Brent $93.82/barrel (+4 cents). WTI $86.78/barrel (-6 cents). Weekly track: +2nd straight rise. US-Iran war disrupts Middle East supply.

Updated: 21 Aug 2026 • 10:12 am

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Crude Oil Price Today August 21, 2026: Brent at $93.82 Per Barrel on Track for Second Weekly Rise as US-Iran Conflict Crimps Supply

Quick Answer

Crude oil prices were little changed but firm on August 21, 2026, with Brent crude futures at $93.82 per barrel and WTI at $86.78 per barrel. Oil is on track for a second consecutive weekly rise as the stalemated US-Iran war continues to disrupt supply from the key Middle East producing region. Brent climbed 2.4% in the previous session before steadying. For India — which imports over 85% of its crude requirement — Brent at $93.82 is a net headwind for the current account, inflation, and oil marketing companies.

Table of Contents

Crude Oil Price Today: Key Data

Metric	Value
Brent Crude Futures	$93.82 per barrel
WTI Crude Futures	$86.78 per barrel
Brent Previous Session Move	+2.4%
WTI Previous Session Move	+2.3%
Weekly Direction	Second straight weekly rise
Key Driver	US-Iran war disrupting Middle East supply

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Why Is Crude Oil Rising?

The US-Iran war continues to stall, disrupting oil supply from a key Middle East producing region. Iran is a significant crude producer, and continued conflict-related supply disruptions are keeping a floor under prices. Additionally, a Gulf diplomatic deadlock has lifted prices to one-month highs, generating second-order inflation concerns across global markets.

Brent at $93.82 per barrel represents a significant increase from levels below $85 seen in recent months. The supply-demand balance has tightened as OPEC+ production discipline combined with Middle East disruption reduces available barrels in the global market.

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Impact on India: Current Account, Inflation, and OMCs

For India, Brent crude at $93.82 is a meaningful headwind across three dimensions. First, India's current account deficit widens as the import bill for crude and petroleum products rises. Second, domestic fuel prices, if not fully passed through by oil marketing companies (OMCs), compress OMC margins. Third, higher crude raises transportation and logistics costs, which feed into headline CPI inflation — potentially delaying the RBI's rate cut trajectory.

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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What is crude oil price today on August 21, 2026?

Ans. Brent crude futures are at $93.82 per barrel on August 21, 2026, up 4 cents from the prior close. WTI crude futures are at $86.78, down 6 cents. Oil is on track for a second consecutive weekly rise driven by US-Iran war supply disruptions.

Why is oil price rising for the second straight week?

Ans. Crude oil is rising for the second week because the US-Iran war continues to disrupt Middle East oil supply. A Gulf diplomatic deadlock has added to supply concerns, lifting Brent to one-month highs. OPEC+ production discipline has also reduced spare supply available to offset the Middle East disruption.

What is WTI crude oil price today?

Ans. West Texas Intermediate (WTI) crude futures are at $86.78 per barrel on August 21, 2026, slipping 6 cents from the prior close after climbing 2.3% in the previous session.

How does Brent at $93.82 affect India?

Ans. Brent crude at $93.82 per barrel is a headwind for India across three dimensions: it widens the current account deficit, compresses oil marketing company margins if retail prices are not raised, and raises transportation and logistics costs that feed into CPI inflation, potentially delaying the RBI's rate cut cycle.

What is the US-Iran war's impact on oil prices?

Ans. The stalemated US-Iran war has disrupted oil supply from a key Middle East producing region. Iran is a significant crude producer and ongoing conflict affects both Iranian oil exports and broader Gulf shipping routes. The supply disruption is keeping upward pressure on Brent crude, which is now at $93.82 per barrel.