Global crude oil prices edged higher on August 4, 2026, recovering a part of the previous session's steep losses after easing geopolitical tensions had triggered a sharp sell-off.
Brent crude rose 0.88% to $84.51 per barrel, while WTI crude gained 0.86% to $81.03 per barrel during early trade. The rebound comes a day after oil prices plunged more than 5% following US President Donald Trump's decision to hold off a planned military strike on Iran while pursuing diplomatic negotiations.
Key Commodity Prices (August 4, 2026)
- Brent Crude: $84.51/bbl (+0.88%)
- WTI Crude: $81.03/bbl (+0.86%)
- Natural Gas: $2.77/MMBtu (-0.24%)
- Gasoline: $2.98/gal (+0.46%)
- Heating Oil: $3.87/gal (-0.22%)
- Coal: $132.50/ton (-1.12%)
- EU Gas: €58.24/MWh (+1.28%)
- UK Gas: 141.02 GBp/thm (-2.26%)
Despite the modest recovery, crude oil remains significantly below last week's levels after markets priced in lower geopolitical risk in the Middle East. Traders will continue to monitor developments surrounding US-Iran negotiations, global demand indicators, and upcoming inventory data for further direction.
