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Line chart showing WTI crude oil's daily closing price falling from its August 21 peak.

WTI crude has fallen more than six percent since its August 21 peak as Washington signalled a shift toward economic sanctions rather than military strikes against Iran, even as those sanctions, targeting China's import exemption, were described as the toughest of the campaign. The UAE cut all economic and financial ties with Iran on August 19 after accusing Tehran of firing missiles toward its territory, removing one of Iran's largest remaining trade channels. The Strait of Hormuz risk remains unresolved.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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