Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Hormuz Hopes Drive Oil Prices Down Again

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices continued their downward trend as traders grew optimistic about a potential deal to resume shipping through the Strait of Hormuz. Iran announced it was close to reaching an agreement with Oman, sparking hopes for a resolution to the conflict.

The price of West Texas Intermediate crude oil fell by 11% over the first three days of this week and was trading around $75 per barrel on Thursday. Meanwhile, Brent crude oil closed at over $79 per barrel on Wednesday.

US President Donald Trump also reiterated that a deal was imminent, adding to the sense of optimism in the market. However, uncertainty persists, with traders cautioning against a sudden escalation of the conflict.

More on Commodities

Commodities 3m ago

Silver Clings to Gains Near $62 Ahead of NFP Data

Commodities 3m ago

Silver Market in Technical Tug-of-War Between Daily and Weekly Charts

Commodities 4m ago

Adoboli Defends Bank of Ghana's $1.7 Billion Gold Programme Losses

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy