Oil Price Today (August 14): Crude oil dips below $88 despite Trump’s threat to blockade Iran indefinitely. What are experts saying?

Oil prices have dipped below $88 a barrel despite a threat from former US President Trump to blockade Iran indefinitely. This decline is a reversal from the previous session, where both Brent and US West Texas Intermediate crude futures had dropped more than 2%. The current drop is a minor setback, as both benchmarks are still headed for weekly gains of around 4%. The market's reaction to Trump's statement suggests that investors are not taking the threat seriously, or that they believe it is unlikely to be implemented.

Why it matters

The threat of a blockade on Iran has not significantly impacted oil prices, as experts are weighing the potential effects. The current dip in oil prices may be due to other market factors.

Market impact

Markets & countries in focus

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Likely winners & losers

Related coverage

• Pezeshkian backs US dialogue, warns Iran will not surrender military power Moneycontrol · 2026-08-08
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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to Economic Times. For information only — not financial advice.