09:41 - 26.08.2026

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August 26, Fineko/abc.az. Oil prices dropped around 2% following resumed talks between Iran and Oman to establish a joint navigation corridor and clear mines in the Strait of Hormuz. Brent crude fell to $86.80 per barrel, while US WTI crude slid 1.8% to $80.87.

While diplomatic progress eased supply disruption fears, analysts point out that underlying risks—such as a recent tanker attack—continue to support prices. Additionally, a larger-than-expected 4.2 million barrel rise in US crude inventories reported by the API added further downside pressure on the market.