August 8, 2026

Uncertainty Over Reopening of Strait of Hormuz Lifts Crude Prices

Source:

News Snapshot:

September WTI crude oil (CLU26) closed up +0.89 (+1.15%) on Friday, and September RBOB gasoline (RBU26) closed up +0.0468 (+1.59%). Crude oil and gasoline prices settled higher on Friday, supported by a decline in the dollar ($DXY) to a 7-week low. Also, uncertainty regarding a proposed plan by Iran and Oman to reopen the Strait of Hormuz is boosting crude prices. The oil market is monitoring progress toward a deal between Iran and Oman to partially restore shipping through the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for…

View Original News Source →

Email
This field is for validation purposes and should be left unchanged.
Newsletter to Your Inbox
China intelligence delivered each week!
Your Email
Your Name
First Last
This field is hidden when viewing the form
Your Location
Consent
I agree to the privacy policy.

Uncertainty Over Reopening of Strait of Hormuz Lifts Crude Prices

Newsletter to Your Inbox

China intelligence delivered each week!

CNBC Daily Open: Trump’s Strait of Hormuz claim meets crude reality

Crude Prices Soar as Strait of Hormuz Reopening in Doubt

Crude Prices Finish Sharply Higher on Doubts About Strait of Hormuz Reopening

Gas prices could remain high this fall even if crude prices stabilize. Here’s why

Progress Toward Reopening the Strait of Hormuz Weighs on Oil Prices

LNG tanker carrying Qatari cargo struck in Strait of Hormuz as Mideast conflict drives oil rally

Oil Prices Retreat, But the Strait of Hormuz Remains the Wild Card

Iran’s demands over the Strait of Hormuz would set a dangerous precedent, Rubio warns Asian leaders

Crude continues rally: Brent tops $92, WTI above $85 as Strait of Hormuz tensions threaten global supplies