{
  "id": 4363693,
  "title": "Oil settles lower on clues about fed policy, rumours of Hormuz deal",
  "url": "https://urgent.news/2026/08/30/oil-settles-lower-on-clues-about-fed-policy-rumours-of-hormuz-deal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-30T06:44:08.000Z",
  "source": {
    "name": "The Peninsula Qatar Business",
    "slug": "the-peninsula-qatar-business",
    "url": "https://thepeninsulaqatar.com/article/30/08/2026/oil-settles-lower-on-clues-about-fed-policy-rumours-of-hormuz-deal"
  },
  "original_language": "en",
  "account": "Doha, Qatar - Oil prices declined on Friday and continued to drop throughout the week, as market participants analyzed clues about the US Federal Reserve's strategy to fight inflation and rumors of a potential agreement for shipping through the Strait of Hormuz. Brent crude futures closed at $89.31 per barrel, while US West Texas Intermediate (WTI) crude ended at $83.40 per barrel. Over the week, Brent fell by more than 5 percent and WTI by more than 4 percent.\n\nFederal Reserve Chairman Kevin Warsh's recent remarks hinting at a possible interest rate increase later this year to curb inflation contributed to the downward pressure on oil prices. Although global product markets remain robust following additional Ukrainian strikes against Russian refineries, speculation persists that an agreement to restore Strait of Hormuz access could be finalized over the weekend.\n\nAsian spot liquefied natural gas (LNG) prices surged to a five-month high, driven by demand in both Asia and Europe. The average LNG price for October delivery into northeast Asia reached $23.20 per million British thermal units (mmBtu), up from $22.50 per mmBtu the previous week. The increasing demand from South Asian markets, such as India and Bangladesh, helped sustain the market even as prices rose.\n\nIn Europe, the Dutch TTF gas price settled at $22.48 per mmBtu, marking a weekly decline of 1.3 percent. European gas and LNG prices climbed to multi-year highs as traders priced in the necessity to attract Atlantic Basin LNG cargoes ahead of the winter season.",
  "summary": "<p>Doha, Qatar: Oil prices settled lower on Friday and were also down for the week as traders evaluated indications regarding the US Federal Reserve’s inflation-fighting policy and rumours of a possible agreement on shipping through the Strait of Hormuz.</p> <p>Brent crude futures settled at $89.31 a barrel, while US West Texas Intermediate (WTI) crude finished at $83.40 a barrel.</p> <p>For the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil settles lower on clues about Fed policy, rumours of Hormuz deal",
        "url": "https://urgent.news/2026/08/29/oil-settles-lower-on-clues-about-fed-policy-rumours-of-hormuz-deal",
        "published": "2026-08-29T00:32:43.000Z"
      },
      {
        "outlet": "The Economic Times - Top News",
        "title": "Oil settles lower on clues about Fed policy, rumors of Hormuz deal",
        "url": "https://urgent.news/2026/08/29/oil-settles-lower-on-clues-about-fed-policy-rumors-of-hormuz-deal",
        "published": "2026-08-29T04:13:11.000Z"
      }
    ]
  },
  "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."
}