Oil edges up after sell-off as US-Iran peace talks remain uncertain

Published Aug 3, 10:24 PM UTC

Oil prices edged higher on August 4, 2026, recovering from a three-week low as market uncertainty persisted over negotiations to end the US-Iran war. Front-month Brent crude futures rose 0.7% to US$84.39 a barrel, while US West Texas Intermediate crude gained 0.7% to US$80.95. The previous session saw a sell-off driven by doubts about the progress of peace talks between the United States and Iran. Traders remain cautious as the conflict continues to disrupt global oil supplies and fuel price volatility. The slight uptick reflects a tentative market response to ongoing diplomatic efforts, though the lack of clear resolution keeps prices under pressure.