09:58 - 11.08.2026

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August 11, Fineko/abc.az. Oil prices rose on Tuesday as peace talks between the US and Iran over reopening the Strait of Hormuz stalled. Brent crude futures climbed to $88 per barrel, while US WTI reached $82.45, marking their highest levels since July 31.

The price surge was fueled by US President Donald Trump demanding compensation from Iran in response to its peace terms. Analysts expect oil to trade between $75 and $95 until negotiations settle.

Meanwhile, rising energy prices increased focus on upcoming US inflation data, while spot gold ticked up 0.5% to $2,409.81 per ounce.