Nymex Overview: Crude and Product Prices End the Day, Week Higher — OPIS

Crude oil and refined product futures prices ended the day and week higher Friday as markets continue to price in the possibility of disruptions in global petroleum supplies.

It was the second week that oil prices have moved higher, with U.S. benchmark West Texas Intermediate ending the week up 5.6% and Brent crude seeing gains of 6.6%.

The October WTI contract rose by 23cts during its first day in the front-month position, ending the session at $87.06/bbl. November prices rose by 30cts to $85.16/bbl.

October Brent crude moved up by 61cts during the day to $94.39/bbl and November prices gained 70cts to $92.67/bbl.

Crude prices, however, were giving back most of those gains in late trading at about 4:15 p.m. ET, with WTI moving nearly 40cts off settlement and Brent seeing late losses of about 45cts.

Most activity in refined products was focused on the next-month contracts, with the lightly traded September RBOB contract climbing 8.5cts higher to $3.3479/gal, a gain of 5.1% for the week. October prices were up 3.77cts in more-active trade to $3.0468/gal.

September ULSD ended the trading session ahead by 1.45cts to $4.4948/gal, a 5% increase for the week. October ULSD saw gains of 1.13cts to $4.3848/gal.

Product contracts were also moving lower in late trading, with RBOB futures falling about 2cts from settlement while ULSD losses were about 2.3cts.

Crude futures have been rising as tensions remain high between the U.S. and Iran and there has appeared little chance of a deal to reopen the Strait of Hormuz.

On Friday, President Trump said the U.S. would launch a "crushing economic operation" aimed at forcing Iran to give up its nuclear program. Iranian leaders have warned of a "devastating" response to the increased U.S. pressure.

The fall in prices Friday evening comes as news reports indicate Iranian President Masoud Pezeshkian may have signaled he is looking for an offramp in the conflict, saying Iran should end the war while it currently holds "a position of power."

The week ends with U.S. refiners continuing to enjoy strong profits. On Friday ULSD futures were priced at a $101.72/bbl premium to WTI. During the week, the premium had crossed the $100/bbl mark for the first time ever. RBOB futures were seeing a premium of $53.55/bbl. That premium is expected to decline at the end of the month, when the October contract - which represents a less-expensive RVP mixture - moves into the front-month position.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

Reporting by Steve Cronin, scronin@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

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(END) Dow Jones Newswires

August 21, 2026 17:15 ET (21:15 GMT)