EnergyReader · 2026-08-10 12:08

Brent at $85 as positioning, inventories and refinery strikes tell three different stories

By EnergyReader Newsroom · August 10, 2026

ICE Brent crude front-month settled at $84.72 a barrel on Monday (2026-08-10), up more than 5% over the last three sessions, as traders continue to await a deal announcement between Iran and Oman on management of the Strait of Hormuz. The rally follows a three-week selloff that pushed Brent to $79 on Tuesday (2026-08-04), the lowest since July 10, on expectations Washington and Tehran would strike an interim accord within days.

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ICE Brent crude futures, front-month → OPEC reference basket → Strait of Hormuz oil/LNG transit flows → China crude oil imports →

Connected coverage Stories linked to Brent through the market graph: same hub, spread, route or driver.

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Brent Crude Oil Strait of Hormuz