Global crude oil prices remained mixed on September 4, 2026, as markets weighed escalating tensions in the Strait of Hormuz against potential Russia-Ukraine peace developments.
Crude futures were trading near $95 per barrel, with prices having risen for six consecutive sessions due to supply chain fears in the Middle East region.
Analysts note that while US military actions against Iranian radar systems have capped supply, any concrete progress in peace talks could lead to a sharp correction in energy costs.