10:17 - 7.08.2026

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August 7, Fineko/abc.az. On Friday, oil prices continued to increase amid the news that as part of negotiations between Iran and Oman about reopening of the Strait of Hormuz, it was proposed to ban the passage of "hostile" vessels and impose harsh fines for violators.

Brent crude futures rose 1.2% up to $83.48 per barrel and U.S. WTI crude by 1.1% up to $78.84.

Despite the decline in prices at the beginning of the week, Brent quotes again exceeded the $80 mark amid hopes for diplomatic settlement between the U.S. and Iran. Experts note that investors’ restrained optimism limits the decline in prices. The Iranian parliament is considering a bill providing for fines of up to 20% of the cargo value for vessels violating the rules. The situation is also aggravated by the ongoing Houthi attacks on positions in the Marib and Hadramaut areas.