Oil prices rose on August 10, 2026, due to uncertainty surrounding the reopening of the Strait of Hormuz.
Brent crude futures increased by $0.91 or 1.09%, reaching $84.46 a barrel, while US West Texas Intermediate (WTI) crude futures rose $0.61 or 0.78% to $78.79 a barrel.
The Strait of Hormuz is a critical waterway through which one-fifth of the world's oil passes before being refined and distributed globally.
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