{
  "id": 555634,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-11T10:03:08.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/energy/2026/08/11/oil-prices-reach-90-a-barrel-as-hopes-weaken-for-us-iran-deal/"
  },
  "original_language": "en",
  "account": "Oil prices surged to $90 a barrel on Tuesday as the chances of a US-Iran deal faded and the Strait of Hormuz reopened, following US President Donald Trump's demand for Iran to compensate for past conflicts. Brent, the global benchmark, climbed 2.6% to $90 a barrel, while West Texas Intermediate rose 2.98% to $84.58 a barrel. This marked the highest level in over a week, driven by Trump's insistence on compensation for Iran's \"killings and gravely wounded\" in various conflicts, including the USS Cole bombing and the 52,000 deaths in the past five months. Iran demanded six new conditions for reopening the Strait, including lifting the maritime blockade and withdrawing US forces. Research analyst Soojin Kim from MUFG noted that the toughening of US and Iranian demands, combined with tight global inventories and security risks on alternative shipping routes, kept a geopolitical premium in oil prices. As of Tuesday, traffic through Hormuz was still limited to about five vessels per day, threatening global energy flows and raising concerns about supply issues extending to the Red Sea, where Houthi attacks have disrupted shipping and delayed Saudi Arabia's Jazan refinery restart.",
  "summary": "Oil prices rose on Tuesday to touch the $90 a barrel mark as hopes weakened for a US-Iran deal and the reopening of the Strait of Hormuz after US President Donald Trump demanded compensation from Tehran. Brent, the benchmark for two thirds of the world’s oil, was up 2.6 per cent to $90 a barrel at 1.16pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was trading 2.98 per cent…",
  "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": "Business Recorder",
        "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",
        "published": "2026-08-11T02:46:20.000Z"
      },
      {
        "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 UAE",
        "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-555771",
        "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"
      }
    ]
  },
  "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."
}