Business

Oil Prices and Strait of Hormuz Deal

Updated 2026-08-04 18:40 UTC 1 source Negative

Treasury Secretary Scott Bessent announced that a deal to reopen the Strait of Hormuz could allow freedom of navigation, leading to a drop in oil prices.

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CNBC

Oil prices tumble after Bessent says Strait of Hormuz deal may come this week

Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz would allow freedom of navigation.

2026-08-04 15:57 UTC