According to CoinMeta, crude oil prices fell on August 24th, with WTI and Brent crude oil futures declining by 1.6% and 1.3% respectively, to $85.70 and $93.16 per barrel, as traders took profits before a new round of U.S. sanctions against Iran. Nevertheless, the supply risks associated with the Strait of Hormuz still exist, which could lead to another rise in prices. Data from the U.S. Energy Information Administration shows that as of August 14th, commercial crude oil inventories increased by 4.4 million barrels to 428.8 million barrels, indicating reverse pressure on U.S. supplies. OPEC plans to raise production targets by 188,000 barrels per day in September, which will further affect the market supply and demand balance.