Oil rises amid uncertainty over U.S.-Iran Strait of Hormuz deal

Oil prices rose due to uncertainty over a deal to reopen the Strait of Hormuz. According to The Vibes, Brent crude rose above $84 a barrel and West Texas Intermediate (WTI) hovered around $76.40. Iran said talks with Oman on a new shipping route through the Strait of Hormuz were nearing an agreement, but cautioned that any deal would not result in the immediate reopening of the waterway.

Iran has rejected direct negotiations with the US, citing alleged breaches of an interim peace agreement reached in June, and continues to demand an end to the US naval blockade, the lifting of sanctions, and compensation for war-related damage. US President Donald Trump has signaled a patient approach to negotiations, according to The Vibes and FXStreet.

Regional tensions remain high, with Iran-backed Houthi militants in Yemen claiming a recent attack on Saudi Arabia's Jazan refinery, and a tanker operated by the Abu Dhabi National Oil Co. coming under attack in the Strait, as reported by FXStreet.

Brief written by urgent.news from CNBC, The Vibes, CNBC World, FXStreet, MarketWatch Top — 5 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.