International oil prices rose for a fourth straight session as the war between the US and Iran approached the six-month mark without progress in negotiations. WTI climbed above $85 a barrel on August 18 after the US benchmark had already gained 4.5% over the previous three sessions, while Brent crude traded above $91 a barrel. Hopes for a near-term end to the conflict faded after President Donald Trump said the US is not currently holding talks with Iran. The rally was also supported by continued uncertainty over the Strait of Hormuz (key oil shipping chokepoint), limited vessel traffic through the route, and lower US crude inventories reported by the American Petroleum Institute. Stockpiles at Cushing, Oklahoma also fell, and middle distillates (refined fuels such as diesel) were estimated to have declined. Diesel and other petroleum products have recently risen faster than crude, increasing the risk that higher energy costs feed broader inflation pressure.