Oil prices slide as Iran and Oman consider Hormuz deal
By The BriefBrief
West Texas Intermediate and Brent crude’s October contracts fell sharply, extending a five-day slide. WTI dropped by almost 7% and Brent by about 9% over the period as Iran and Oman looked at a temporary deal related to the Strait of Hormuz.
WHO:Oil market participants
WHAT:WTI and Brent October crude contracts declined sharply over five days amid talks of a temporary Hormuz deal involving Iran and Oman.
WHEN:Reported Aug 26, 2026 at 4:54 AM ET
WHERE:Location not specified
WHY:Crude prices fell as Iran and Oman eyed a temporary deal related to the Strait of Hormuz.
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