Oil largely unchanged as US-Iran peace talks stall, Hormuz shipping slows

Published Aug 16, 10:49 PM UTC

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Oil prices remained largely unchanged, with Brent crude futures edging up 0.2% to US$88.72, as US-Iran peace talks stalled and shipping through the Strait of Hormuz slowed. Over the weekend, Iranian Foreign Minister Abbas Araqchi stated that Iran had not decided to resume talks with the US, contributing to market uncertainty. The slowdown in Hormuz shipping, a critical chokepoint for global oil transit, added to supply concerns. The article, published by The Business Times Singapore on August 17, 2026, highlights the geopolitical tensions affecting oil markets.

Source

The Business TimesRegional

Original language: EN-US

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