#布伦特原油跌1.87% 2026 August 24, 2026 (Monday) overnight: Brent crude oil futures (BZ) fell by about 1.87% to $92.72 per barrel; WTI crude oil futures (CL) dropped in sync by 2.5% to $84.86 per barrel. The decline continued into the early hours of August 25, with BZ’s settlement price further sliding to $92.17 per barrel.
The key driver behind this drop is a shift in market expectations. On one hand, traders took profits after the two prior weeks’ cumulative gains of over 5%. On the other hand, the market is awaiting details of the next round of U.S. sanctions on Iran. Meanwhile, data on navigation through the Strait of Hormuz has been conflicting: the U.S. side says daily transit remains at 7–15 million barrels, while other reports show traffic is far below normal levels. The magnitude of the real supply disruption remains in question, so the geopolitical risk premium has been unwound.
By cross-commodity performance, gold futures (XAU) strengthened against the trend. The CME gold futures DEC2026 contract rose 1.97% to $4,661.6 per ounce, highlighting its safe-haven appeal.
- Short term: BZ, CL📉, XAU📈
- Medium to long term: If U.S. sanctions are implemented in a substantive way and navigation through the Strait of Hormuz continues to be blocked, BZ and CL may turn 📈; but if expectations of global demand weakness dominate, oil prices may still be 📉, while XAU is supported by both central bank gold buying and safe-haven demand, maintaining a 📈 pattern.
$XAU
$BZ
$CL
The key driver behind this drop is a shift in market expectations. On one hand, traders took profits after the two prior weeks’ cumulative gains of over 5%. On the other hand, the market is awaiting details of the next round of U.S. sanctions on Iran. Meanwhile, data on navigation through the Strait of Hormuz has been conflicting: the U.S. side says daily transit remains at 7–15 million barrels, while other reports show traffic is far below normal levels. The magnitude of the real supply disruption remains in question, so the geopolitical risk premium has been unwound.
By cross-commodity performance, gold futures (XAU) strengthened against the trend. The CME gold futures DEC2026 contract rose 1.97% to $4,661.6 per ounce, highlighting its safe-haven appeal.
- Short term: BZ, CL📉, XAU📈
- Medium to long term: If U.S. sanctions are implemented in a substantive way and navigation through the Strait of Hormuz continues to be blocked, BZ and CL may turn 📈; but if expectations of global demand weakness dominate, oil prices may still be 📉, while XAU is supported by both central bank gold buying and safe-haven demand, maintaining a 📈 pattern.
$XAU
$BZ
$CL