Oil rises as uncertainty continues over reopening of Strait

XLE•2026-08-09

Oil prices rise on Strait of Hormuz uncertainty

PERTH, Aug 10 (Reuters) - Oil prices rose on Monday as uncertainty continued over the reopening of the Strait of Hormuz as Iran said a deal with Oman defining new shipping lanes was in its final stages, but the U.S. must still meet other conditions.

Brent crude futures LCOc1 rose $1.20, or 1.44%, to $84.79 by 2206 GMT while U.S. West Texas Intermediate CLc1 was at $79.29 a barrel, or 1.08%, rising $1.12.

Oil rises as uncertainty continues over reopening of Strait

Oil prices rise on Strait of Hormuz uncertainty

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