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Commodities

Iran-Oman Talks Keep Brent Crude Prices Firmly Above $85

Guavy AI Editorial Team
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Oil
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Brent crude oil has been holding steady around $85 a barrel after rising more than 5% over the last three trading sessions. In contrast, US oil (WTI) is sitting near $79.

The market's attention has been focused on negotiations between Iran and Oman to open a new shipping route through the Strait of Hormuz, which could impact global oil flow.

Iran's foreign minister stated that a deal is 'very close', but warned that the strait will not reopen immediately.

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