Business

Oil Prices Plunge on Hormuz Deal Talks

Updated 2026-08-26 09:10 UTC 1 source Negative

Oil prices have fallen sharply as Iran and Oman consider a temporary deal to ease tensions in the Strait of Hormuz, affecting global crude markets.

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MarketWatch
West Texas Intermediate and Brent crude’s October contracts declined by almost 7% and 9% in five days, respectively.
2026-08-26 08:54 UTC
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