{
  "id": 524869,
  "title": "Oil steadies near one-week highs as US-Iran peace deal hopes dim",
  "url": "https://urgent.news/2026/08/11/oil-steadies-near-one-week-highs-as-us-iran-peace-deal-hopes-dim-524869",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-11T02:46:20.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40434258/oil-steadies-near-one-week-highs-as-us-iran-peace-deal-hopes-dim"
  },
  "original_language": "en",
  "account": "Oil prices stabilized near their highest levels in a week on Tuesday as hopes of a US-Iran peace deal faded, after President Donald Trump insisted on compensation for the damage his country has suffered. On Tuesday morning, Brent crude futures were flat at $87.81 per barrel, while West Texas Intermediate crude futures remained steady at $82.20 per barrel. On Monday, both benchmarks climbed more than 5% to their highest point since July 31, following Trump's response to Iran's terms for a peace deal. Trump demanded Iran pay compensation for casualties in wars, attacks, and protests, which could complicate the reopening of the Strait of Hormuz.\n\nTim Waterer, chief market analyst at KCM Trade, noted that there appears to be a significant gap between the positions of the US and Iran regarding any potential agreement. As a result, some of the optimism that had built up last week has been eroded, giving oil prices a cautious tone. Meanwhile, Saudi Aramco has delayed the restart of its 400,000-barrel-per-day Jazan refinery until August 30, following two attacks on the plant claimed by the Houthis on Sunday.\n\nThe threat of disruptions to the Strait of Hormuz and Bab el-Mandeb remains high, as the insurance costs are elevated and longer shipping routes are necessary due to the risks. According to analysts at Barclays, crude oil and refined product net exports through the Strait of Hormuz averaged 3 million barrels per day in the week ending August 7, down from 4.4 million bpd in the previous week. In a recent note, analysts pointed out that Iraq has increased the September official selling price (OSP) for Basra Medium crude to Asia by $2.50, making it $4 per barrel cheaper than the average of Oman/Dubai quotes.",
  "summary": "Oil prices steadied on Tuesday at more than one-week highs amid fading hopes of a deal between the US and Iran to end their war and reopen the Strait of Hormuz , after President Donald Trump demanded compensation for damage the US has incurred. Brent crude futures were flat at $87.81 a barrel by 0013 GMT, while US West Texas Intermediate crude futures held at $82.20 a barrel. Both benchmarks rose…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
      {
        "outlet": "Live Mint",
        "title": "US-Iran war LIVE: Trump lashes out at Iran over compensation, makes sweeping new demands amid Hormuz deal cloud",
        "url": "https://urgent.news/2026/08/11/us-iran-war-live-trump-lashes-out-at-iran-over-compensation-makes",
        "published": "2026-08-11T00:03:31.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "Oil steadies near one-week highs as US-Iran peace deal hopes dim",
        "url": "https://urgent.news/2026/08/11/oil-steadies-near-one-week-highs-as-us-iran-peace-deal-hopes-dim",
        "published": "2026-08-11T00:40:27.000Z"
      },
      {
        "outlet": "Toronto Sun",
        "title": "Contradicting public statements, Trump took secret flight from Turkey amid Iranian threat",
        "url": "https://urgent.news/2026/08/11/contradicting-public-statements-trump-took-secret-flight-from-turkey",
        "published": "2026-08-11T01:36:10.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Oil steadies near one-week highs as US-Iran peace deal hopes dim",
        "url": "https://urgent.news/2026/08/11/oil-steadies-near-one-week-highs-as-us-iran-peace-deal-hopes-dim-528832",
        "published": "2026-08-11T02:34:00.000Z"
      },
      {
        "outlet": "ABC News (US)",
        "title": "Trump reportedly used catering truck to sneak off Air Force One amid Iranian threats",
        "url": "https://urgent.news/2026/08/11/trump-reportedly-used-catering-truck-to-sneak-off-air-force-one-amid",
        "published": "2026-08-11T03:40:41.000Z"
      },
      {
        "outlet": "The National Business",
        "title": "Oil prices reach $90 a barrel as hopes weaken for US-Iran deal",
        "url": "https://urgent.news/2026/08/11/oil-prices-reach-90-a-barrel-as-hopes-weaken-for-us-iran-deal",
        "published": "2026-08-11T10:03:08.000Z"
      },
      {
        "outlet": "Semafor",
        "title": "US-Iran peace talks at impasse as Trump calls for reparations",
        "url": "https://urgent.news/2026/08/11/us-iran-peace-talks-at-impasse-as-trump-calls-for-reparations",
        "published": "2026-08-11T11:18:24.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Oil erases gain as Pakistan signals optimism on US-Iran deal",
        "url": "https://urgent.news/2026/08/11/oil-erases-gain-as-pakistan-signals-optimism-on-us-iran-deal",
        "published": "2026-08-11T13:32:36.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Oil rises as doubts over US-Iran deal heighten supply concerns",
        "url": "https://urgent.news/2026/08/12/oil-rises-as-doubts-over-us-iran-deal-heighten-supply-concerns-629620",
        "published": "2026-08-12T02:47:31.000Z"
      }
    ]
  },
  "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."
}