Oil prices ease slightly after early spike following US-Iran strikes | ABC NEWS

The price of brent crude oil has dipped slightly after rising above US$90/barrel in the wake of US strikes in the Strait of Hormuz and retaliatory strikes from Iran on Jordanian targets. ABC Business Daily host Carrington Clarke says the spike reflects the markets’ anxiety over boiling tensions in the Middle East while US President Donald Trump’s announcement of an oil deal with Venezuela has offset some pressure on global oil prices. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-08-31/middle-east-war-us-strikes-launched-iran-larak-island/107096404 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia #abcnewschannel