Business Desk – Crude Oil Price: The tension between America and Iran seems to be increasing instead of decreasing. US Finance Minister Scott Besant has threatened to impose the biggest sanctions in history on Iran. After this, on Friday, August 21, 2026, a sharp rise in the prices of crude oil was seen in the international market.
WTI Crude reached $86.624 per barrel and Brent Crude reached $93.662 per barrel. Oil prices have increased by about 6% so far this week. In such a situation, the biggest question is that if US-Iran tension increases further, can Brent crude cross $ 100 per barrel?
Threat of biggest sanctions on Iran
US Finance Minister Scott Besant has said that America is putting double pressure on Iran. According to him, a blockade has already been imposed on Iran in major waterways and now America is preparing to impose the biggest sanctions in history on it.
Besant also claimed that America would topple the government of Iran. This statement from America has further increased the tension between the two countries. Its direct effect is visible in the market too and investors have become cautious about the supply of crude oil.
Will Brent Crude cross $100?
The fear of Brent crude crossing $100 per barrel is increasing because oil prices continue to rise. At present, there are no signs of any agreement to reduce tension between America and Iran.
If tensions in the Middle East increase further and oil supply is affected, the pressure on crude oil prices in the international market may increase further. In such a situation, the discussion in the market may intensify regarding the possibility of Brent Crude crossing the level of $ 100 per barrel.
However, it is not certain yet that the price of oil will cross $100. This will further depend on the US-Iran tension and its impact on supplies.
Shock to hopes of petrol and diesel becoming cheaper in India
The increase in the price of crude oil in the international market may also increase concerns for India. India fulfills a major part of its requirement through import of crude oil. In such a situation, if crude remains expensive for a long time, the oil import bill may increase.
This is the reason why people expecting a cut in the prices of petrol and diesel may get a shock. If oil prices remain high in the international market for a long time, then instead of petrol and diesel becoming cheaper in India, there may be pressure to increase the prices. There has been no change in the prices of petrol and diesel so far in August 2026.
Petrol in Delhi Rs 102.12, diesel Rs 97.83
- On Friday, petrol in the capital Delhi is Rs 102.12 per liter and diesel is Rs 97.83 per liter.
- In Mumbai, petrol is being sold at Rs 111.21 per liter and diesel at Rs 97.83 per liter.
- The price of petrol in Chennai is Rs 107.76 per liter and diesel is Rs 99.55 per liter.
- Whereas the price of diesel in Bangalore is Rs 98.80 per liter. Bangalore petrol rates are not available in the given figures.
Will keep an eye on oil prices going forward
At present, the US-Iran tension is the biggest reason for the rise in crude oil prices. After a rise of about 6% this week, the market is now eyeing the next step taken by America on Iran. If the tension increases further, it may impact not only crude oil but also the fuel market of importing countries around the world including India.
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