Brent Crude Oil Pares Losses

2026-08-26 15:57 By Agna Gabriel 1 min. read

Brent crude oil pared earlier losses and traded just below $89 a barrel on Wednesday, following two consecutive sessions of declines, as signs of increased flows from the Persian Gulf eased supply concerns.

Traders are closely watching talks between Iran and Oman over a possible arrangement to restore shipping through the Strait of Hormuz.

US President Donald Trump said around 10 million barrels of oil had passed through the waterway on Tuesday, raising hopes that disruptions may be easing.

Meanwhile, satellite data indicated that Saudi Arabia could be increasing oil loadings from terminals inside the Persian Gulf.

At the same time, Iran and Oman are reportedly discussing broader arrangements for managing Hormuz, although uncertainty remains over whether Washington would accept an agreement excluding the US.

In the US, EIA data showed crude inventories were virtually unchanged last week, while gasoline and diesel stocks fell to seasonal lows.



News Stream
Brent Crude Oil Pares Losses
Brent crude oil pared earlier losses and traded just below $89 a barrel on Wednesday, following two consecutive sessions of declines, as signs of increased flows from the Persian Gulf eased supply concerns. Traders are closely watching talks between Iran and Oman over a possible arrangement to restore shipping through the Strait of Hormuz. US President Donald Trump said around 10 million barrels of oil had passed through the waterway on Tuesday, raising hopes that disruptions may be easing. Meanwhile, satellite data indicated that Saudi Arabia could be increasing oil loadings from terminals inside the Persian Gulf. At the same time, Iran and Oman are reportedly discussing broader arrangements for managing Hormuz, although uncertainty remains over whether Washington would accept an agreement excluding the US. In the US, EIA data showed crude inventories were virtually unchanged last week, while gasoline and diesel stocks fell to seasonal lows.
2026-08-26
Brent Declines for Third Straight Session
Brent crude fell toward $86 per barrel on Wednesday, extending losses into a third consecutive session following reports that Iran and Oman discussed the establishment of a “temporary joint maritime corridor” in the Strait of Hormuz. Technical talks between the two sides are set to continue as they work toward a permanent maritime corridor covering the future administration of the strait, information-sharing mechanisms, traffic management, and the provision of maritime and security services. Meanwhile, Pakistan’s army chief traveled to Tehran to support diplomatic efforts, while Qatar said it was continuing its mediation. Oil prices have come under pressure this week after Washington’s latest measures to intensify economic pressure on Iran proved less aggressive than markets had expected, with the US stopping short of imposing secondary sanctions on Iran’s trading partners.
2026-08-25
Brent Crude Oil Falls by Over 4%
Brent crude oil fell more than 4% toward $88 a barrel on Monday, extending a 2.4% loss in the previous session, as investors assessed signs of easing tensions between the US and Iran. Pakistan’s army chief visited Tehran in an effort to support diplomacy, while Qatar said it was continuing mediation efforts. Reports that Washington could soon return evacuated diplomats to the region also suggested that a broader military escalation may be less imminent. Meanwhile, Washington’s latest measures to increase economic pressure on Iran were less severe than markets had anticipated. US Treasury Secretary Scott Bessent said countries trading with Tehran would be given a deadline to wind down their links or risk unilateral penalties. Despite the measures, substantial volumes of crude continue to move through the Strait of Hormuz, with some shipments operating discreetly.
2026-08-25