Oil Declines for Third Straight Session

2026-08-25 23:19 By Jam Kaimo Samonte 1 min. read

Crude oil fell below $81 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.



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Oil Declines for Third Straight Session
Crude oil fell below $81 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
Crude Oil Extends Losses Below $82
Crude oil fell more than 3% to below $82 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
Oil Falls 3% as Pakistan Pushes Iran-US Talks
Crude oil fell 3% to around $82.5 a barrel on Tuesday, extending a 2.4% loss in the previous session, as signs of possible diplomatic progress between Iran and the US eased concerns over supply disruptions. Pakistan’s army chief concluded a one-day visit to Tehran as part of efforts to reduce tensions, with reports suggesting he carried a proposal involving potential sanctions relief under an existing memorandum of understanding. 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. Investors remain uncertain whether the strategy will affect oil flows through the Strait of Hormuz or instead increase tensions with China, Iran’s main crude buyer.
2026-08-25