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Oil Prices Climb as U.S.-Iran Peace Hopes FadeCrude oil prices moved higher today as the chances of a lasting peace between the United States and Iran shriveled following Iran’s release of six conditions earlier this week and President Trump’s unsurprising reaction to them. At the time of writing, Brent crude traded at $87.72 per barrel, and West Texas Intermediate was trading at $82.13 per barrel, after President Trump demanded that Iran pay reparations to the U.S. for war-related damages. “We're going to ask for money for the damage they've done over a 50-year period,”…OilPrice.comAug 11, 2026