Oil Holds Near $89 as Hormuz Shipping Slows Amid Stalled Talks

VG Markets · 2026-08-17T05:43:07Z

Brent hovered near $88.7 after rising over 5% last week as U.S.-Iran peace efforts stalled and Hormuz traffic weakened sharply. Kpler data showed only five commodity vessels crossed Saturday, versus 31 the prior weekend. Traders should watch shipping flows and diplomatic signals for the next oil breakout.

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