World · 20 August 2026

Oil hits $94 as UAE cuts Iran ties, squeezing Strait of Hormuz

Brent crude hit roughly $94 a barrel on Thursday after the United Arab Emirates paused its financial links with Iran. Exports remain squeezed because shipping through the Strait of Hormuz has fallen significantly since the conflict began late last February. On Wednesday, Donald Trump threatened to punish the economy of any nation that provides "any type of lifeline" to Tehran.

✓ Verified against the source · 60 words · 40 sec

Get the app

More briefs

EntertainmentNeutrogena receives boycott calls after Hayden Panettiere's death GeneralMicrosoft seeks principal legal engineer to develop AI tools for legal department GeneralBayern Munich ease fears over Musiala's career after absence seizure diagnosis GeneralTottenham talking to Manchester City about signing two forwards GeneralKimi Antonelli is favourite to win F1 title as season restarts GeneralChelsea to get £60.9m profit from player's record sale to AC Milan Browse all stories →