{
  "id": 555771,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-11T10:03:08.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "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 expectations faded for a US-Iran deal and the Strait of Hormuz reopened. Brent, a key benchmark, climbed 2.6% to $90 a barrel, while US crude West Texas Intermediate gained 2.98% to $84.58 a barrel. The spike occurred after President Donald Trump demanded Tehran compensate the United States for past conflicts, including those involving the USS Cole and other combat-related deaths. Iran responded with six new conditions to reopen Hormuz, such as lifting a maritime blockade and withdrawing US naval forces. Research analyst Soojin Kim of MUFG explained that tougher US and Iranian demands have reduced the likelihood of a near-term agreement to restore normal shipping through the strategic chokepoint. Kim noted that with diplomatic positions hardening, tight global inventories, and security risks on alternative export routes, the ongoing Hormuz disruption is likely to maintain a significant geopolitical premium in oil prices. Currently, only about five vessels per day manage to pass through Hormuz, leaving a substantial portion of global energy flows at risk. Additionally, the Red Sea has faced Houthi attacks, causing disruptions to shipping and delaying the restart of Saudi Arabia's Jazan refinery.",
  "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 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"
      }
    ]
  },
  "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."
}