Foreign: Oil prices fell on Thursday as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end a five-month war and reopen the Strait of Hormuz.
Brent crude futures fell 37 cents, or 0.5%, to $79.08 a barrel, according to Reuters on August 6, 2026. U.S. West Texas Intermediate crude fell 53 cents, or 0.7%, to $74.69 a barrel. He added that prices had returned to levels seen when the United States and Iran signed an interim peace deal on June 17, with investors closely watching whether the two sides could reach a final agreement. The proposed deal between Iran and Oman to help end the U.S.-Iran dispute would give Tehran control over ships entering the Gulf through the Strait of Hormuz, one of the biggest concessions to Iran. A senior Iranian source and two regional officials told Reuters on Wednesday that it was one of the biggest concessions to Iran.
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