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US-Iran Tensions Keep Oil Prices Steady Around $84.50

Guavy AI Editorial Team Published August 20, 2026

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Oil

Oil prices remain steady around $84.50 per barrel as geopolitical tensions between the US and Iran persist, causing uncertainty over global supply.

Data on Wednesday showed that shipping through the Strait of Hormuz slowed significantly due to concerns about the blockade.

US President Donald Trump confirmed that the US naval blockade remains in effect, with no negotiations underway with Tehran to reopen the waterway.

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