Oil extends losses amid Strait of Hormuz reopening hopes
Oil prices declined on Thursday, extending their recent losing streak amid growing expectations that diplomatic efforts involving Iran could pave the way for the reopening of the Strait of Hormuz and ease supply disruptions caused by the Middle East
August 27, 2026 (MLN): Oil prices declined on Thursday, extending their recent losing streak amid growing expectations that diplomatic efforts involving Iran could pave the way for the reopening of the Strait of Hormuz and ease supply disruptions caused by the Middle East conflict. Currently, Brent crude futures is up, 0.66%, at $87.51 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) cru...