{
  "id": 3390477,
  "title": "US oil prices extend losses on hopes of Iran-Oman talks on Strait of Hormuz",
  "url": "https://urgent.news/2026/08/26/us-oil-prices-extend-losses-on-hopes-of-iran-oman-talks-on-strait-of",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T00:35:54.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/08/1518810/us-oil-prices-extend-losses-hopes-iran-oman-talks-strait-hormuz"
  },
  "original_language": "en",
  "account": "US oil prices continued to decline on Wednesday morning, furthering the previous day's drop, as market participants remained optimistic about the possibility of Iran and Oman discussing the reopening of the Strait of Hormuz. West Texas Intermediate crude futures dropped by US$1.37, or 1.7%, reaching US$80.99 per barrel as of 2240 GMT. The contract had fallen by 3.1% on Tuesday, recording its lowest level since August 13. Iran announced the resumption of talks with Oman to manage the Strait, amid growing economic pressures exerted by the US under President Donald Trump. Iran and Oman had been engaged in intermittent discussions for several weeks regarding the regulation of maritime traffic through the waterway, which once accounted for one-fifth of global oil and liquefied natural gas shipments prior to the conflict that erupted in February. The US recently broadened its sanctions regime to target Iran's economic resources, threatening penalties for nations that continue to engage in commercial dealings with Iran, although it had not implemented sanctions immediately at the time of the announcement.",
  "summary": "TOKYO: US oil prices fell in early trade on Wednesday, extending the previous session's losses, on hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "US oil prices extend losses on hopes of Iran-Oman talks on Strait of Hormuz",
        "url": "https://urgent.news/2026/08/25/us-oil-prices-extend-losses-on-hopes-of-iran-oman-talks-on-strait-of",
        "published": "2026-08-25T23:02:25.000Z"
      },
      {
        "outlet": "Arabian Business",
        "title": "Iran and Oman restart Strait of Hormuz talks as plan for shipping corridor and mine clearance emerges",
        "url": "https://urgent.news/2026/08/25/iran-and-oman-restart-strait-of-hormuz-talks-as-plan-for-shipping",
        "published": "2026-08-25T23:10:13.000Z"
      },
      {
        "outlet": "New Voice of Ukraine",
        "title": "Trump says main Hormuz shipping lane cleared of mines",
        "url": "https://urgent.news/2026/08/26/trump-says-main-hormuz-shipping-lane-cleared-of-mines",
        "published": "2026-08-26T00:05:00.000Z"
      },
      {
        "outlet": "RTE News",
        "title": "Iran and Oman discuss reopening Strait of Hormuz",
        "url": "https://urgent.news/2026/08/26/iran-and-oman-discuss-reopening-strait-of-hormuz",
        "published": "2026-08-26T01:26:27.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "What happened to Mojtaba Khamenei? ‘Brain-dead’ claim emerges as Iran leader stays hidden",
        "url": "https://urgent.news/2026/08/26/what-happened-to-mojtaba-khamenei-brain-dead-claim-emerges-as-iran",
        "published": "2026-08-26T01:41:18.000Z"
      },
      {
        "outlet": "The Vibes",
        "title": "Oil slides as Iran-Oman Hormuz talks raise hopes of easing tensions",
        "url": "https://urgent.news/2026/08/26/oil-slides-as-iran-oman-hormuz-talks-raise-hopes-of-easing-tensions",
        "published": "2026-08-26T02:25:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}