Brent Eases on Iran Deal Hopes

2026-08-11 13:09 By Agna Gabriel 1 min. read

Brent crude oil fell toward $87 per barrel on Tuesday after Pakistan signaled that the US and Iran could be close to an arrangement aimed at easing tensions and potentially reopening the Strait of Hormuz.

Pakistan’s Defense Minister Khawaja Asif said recent developments suggested the sides were “close to some sort of arrangement” and that conditions were moving in favor of peace.

Separately, talks between Iran and Oman over restoring maritime traffic through the strategic waterway were reportedly at an advanced stage, according to a Qatari Foreign Ministry spokesperson cited by Al Jazeera.

The comments prompted oil prices to reverse earlier gains, highlighting the market’s sensitivity to conflicting signals over the negotiations.

Prices had risen sharply after US President Donald Trump adopted a tougher stance toward Tehran, demanding reparations from Iran for deaths linked to attacks and domestic unrest.



News Stream
Brent Eases on Iran Deal Hopes
Brent crude oil fell toward $87 per barrel on Tuesday after Pakistan signaled that the US and Iran could be close to an arrangement aimed at easing tensions and potentially reopening the Strait of Hormuz. Pakistan’s Defense Minister Khawaja Asif said recent developments suggested the sides were “close to some sort of arrangement” and that conditions were moving in favor of peace. Separately, talks between Iran and Oman over restoring maritime traffic through the strategic waterway were reportedly at an advanced stage, according to a Qatari Foreign Ministry spokesperson cited by Al Jazeera. The comments prompted oil prices to reverse earlier gains, highlighting the market’s sensitivity to conflicting signals over the negotiations. Prices had risen sharply after US President Donald Trump adopted a tougher stance toward Tehran, demanding reparations from Iran for deaths linked to attacks and domestic unrest.
2026-08-11
Brent Extends Rally on US-Iran Deal Uncertainty
Brent crude oil rose toward $89 per barrel on Tuesday, rising for the fifth straight session as hopes for a US-Iran agreement to fully reopen the Strait of Hormuz continued to fade. President Donald Trump introduced new demands on Tehran, further complicating negotiations over the strategic waterway. Trump said that Iran would be required to provide compensation for people it has killed in conflicts as part of future negotiations, following Tehran’s own calls for reparations related to the war. Meanwhile, a spokesperson for Qatar’s foreign ministry said negotiations between Oman and Iran were at an advanced stage, offering some hope of progress toward an agreement. Oil prices were also supported by concerns over US inventories, with the latest data showing that crude stocks held in the Strategic Petroleum Reserve had fallen to their lowest level in more than four decades.
2026-08-11
Brent Extends Rally on US-Iran Deal Uncertainty
Brent climbed above $89 per barrel on Tuesday, rising for the fifth straight session amid heightened uncertainty over a potential deal between the US and Iran to end the war and reopen the Strait of Hormuz. President Donald Trump issued sweeping new demands on Iran, including compensation for people the Islamic Republic has killed in conflicts, after Tehran reiterated calls for reparations as part of negotiations to wind down the conflict. The demands have clouded prospects for a near-term agreement, keeping markets wary of prolonged supply disruptions. Trump also indicated that he was prepared to allow economic pressure on Iran to intensify rather than launch new military strikes to force the reopening of Hormuz. Meanwhile, Iran and Oman have yet to reach an agreement to reopen the waterway, as Tehran is making the move contingent on securing an accord with the US.
2026-08-10