Brent and WTI crude prices rose on 17 August 2026 (+$2.35 and +$2.10/bbl respectively) amid ongoing geopolitical tensions in the Middle East, particularly US threats against Oman over Strait of Hormuz transit and escalating Israel-Hezbollah conflict. China's crude processing rebounded to 12.5 million bbl/day in July, the first increase since tensions began, signaling recovering demand. For Thai SMEs and energy-dependent sectors, sustained elevated oil prices and supply-route volatility warrant cost hedging and inventory planning.