Why Did US Crude Oil Prices Rise 4.93% in Early September 2026?

The USA Crude Oil price trend accelerated in late August, with the weekly assessment rising *.*** to $**.**/MT in the first week of September from the preceding assessment. This followed a volatile August in which prices initially faced pressure from a substantial inventory build before recovering as stocks tightened. Crude oil rose above $** a barrel on Wednesday, scaling three-month highs after Iran said it had struck two American vessels and eight oil tankers in the Gulf. The early-August build of around ** million barrels temporarily eased concerns over prompt availability, but subsequent refinery intake and late-month inventory draws shifted the market toward a firmer position. According to the supplied market assessment, WTI averaged around $**.**/MT during August compared with $**.**/MT in the preceding period. The late-August rebound therefore reflected a tightening physical balance rather than a uniform monthly rally. Strong refinery demand and falling...