Oil Prices Slip After Rally Loses Steam

On August 13, 2026, Brent crude fell 1.48% to $87.66 and U.S. oil dropped 1.67% to $81.88, reversing part of a 5% August 10 jump. That jump was driven by hopes the Federal Reserve would cut interest rates — not by any change in oil supply. If U.S. prices stay lower, gasoline at the pump could soon get cheaper.