- August 27, 2026
- Posted by: Tresmark
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Oil prices edged lower as investors monitored ongoing negotiations between Iran and Oman over the Strait of Hormuz, while a smaller-than-expected increase in US crude inventories limited the decline.
Brent crude futures fell 0.8% to $87.87 per barrel, while West Texas Intermediate (WTI) declined 0.58% to $81.88 per barrel.
Markets are closely watching developments around the Strait of Hormuz, a critical global energy shipping route. Any progress toward restoring safe navigation could ease concerns over supply disruptions and put downward pressure on oil prices.
However, the limited rise in US crude inventories provided some support to prices and helped curb the broader decline.
