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বাংলা E-Paper 📍 Dhaka 📅 Monday | 24 August 2026, 9 Bhadro 1433

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Global oil prices fall despite US-Iran tension

Published : Monday, 24 August, 2026 at 9:15 AM

Observer Online Report

Collected Photo

Global crude oil prices dropped on Monday despite rising tension over fresh US sanctions on Iran.

US West Texas Intermediate (WTI) fell nearly 1.3 per cent to $85.93 per barrel on Monday (August 24).

International benchmark Brent crude slipped 1.24 per cent to $93.22 a barrel.

One barrel contains 158.98 liters of oil. Based on an exchange rate of Tk 122.15 per US dollar, crude WTI stood at around Tk 66 per liter on Monday.

Brent crude traded at approximately Tk 72 per liter.

However, these international rates do not reflect consumer prices in Bangladesh. Final retail prices depend on import cost, duty, tax, refining, transport, and distribution expense.

Meanwhile, Commonwealth Bank of Australia (CBA) expects oil market volatility to persist in the second half of 2026. The situation depends largely on the success of US efforts to isolate Iran economically and Tehran's response.

CBA analysts warned that US sanctions could trigger violent retaliation from Iran, disrupting global energy markets.

The bank forecasts Brent crude to trade between $70 and $100 per barrel in H2 2026. However, prices could drop if supply normalizes.

Even if oil transit through the Strait of Hormuz recovers to 50-60 per cent of normal levels, expectations of excess global supply could push prices further down.

-SA

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Editor : Iqbal Sobhan Chowdhury

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