Brent crude rises on Strait of Hormuz uncertainty
Story essentials
Oil market traders
Strait of Hormuz
August 7, 2026
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Read our editorial policy- Earlier version 18/8/2026, 3:51:01 AM
Brent crude settled at US$83.55 a barrel, up 1.3%. Market remains anxious over negotiations regarding control of the Strait of Hormuz. Iran and Oman are discussing potential transit fees for vessels.
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Related book
The Prize: The Epic Quest for Oil, Money, and Power
Author: Daniel Yergin
This definitive history of the global oil industry provides essential context on how strategic chokepoints like the Strait of Hormuz have shaped international relations and energy security for decades.
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