As of 5 Aug 2026, West Texas crude was US$75.22/bbl (down 0.55) and Brent was US$79.45/bbl (up 0.09). Prices moved on conflicting signals: the US President said talks with Iran were going well and threatened more strikes, while Iran denied the talks and said it reached an agreement with Oman on Hormuz management. Houthi attacks on Saudi oil tankers in the Red Sea add shipping risk. A US crude inventory build of 2.5m barrels was also unexpected. For a Thai SME, keep fuel and freight cost assumptions flexible this quarter and avoid locking in prices on a single headline.