EnergyReader · 2026-08-04 14:04

Oil Traders Are Pricing a Hormuz Reopening Before One Has Been Agreed

By EnergyReader Newsroom · August 4, 2026

ICE Brent crude front-month fell to $83.47 a barrel in early Asian trade on Monday (2026-08-03), a drop of more than 5%, after President Trump called off a planned military strike on Iran and announced fresh diplomatic talks. WTI front-month fell in tandem to $79.77, down 5.88%. By Tuesday (2026-08-04), ICE Brent front-month had slipped further to $81.45 as the initial relief gave way.

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