Iran, Oman Near Deal on Strait of Hormuz as Oil Prices Climb
On Sunday, Iran said a deal with Oman to define new shipping lanes in the Strait of Hormuz was nearing completion but insisted on U.S. meeting other conditions before reopening the waterway. Brent crude rose 0.9% to $84.32 and U.S. crude increased 0.7% to $78.74, affecting global markets including stocks and bonds. Analysts expect a slight rise in core CPI but doubt it will prompt a September Federal Reserve hike.
20 JUL 2026
— Al Jazeera
US petrol soars to $4 as Iran tensions and Houthi blockade spike fuel costs
10 AUG 2026
· THIS STORY — Economic Times
Global oil prices rose as a result of Iran's agreement with Oman to define new shipping lanes in the Strait of Hormuz, impacting markets.
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