Tuesday, 04 August 2026 · World
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EUROS The World Financial Report
Nº 24 Tuesday, 04 August 2026 · World Edition
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Crude oil reverses gains, drops 5% on renewed Middle East peace hopes; Brent falls below $80

mint - markets · 1h ago · 🇮🇳 India
Crude oil reverses gains, drops 5% on renewed Middle East peace hopes; Brent falls below $80

Crude oil prices fell sharply as optimism grew for a peace deal in the Middle East. US Treasury Secretary Scott Bessent indicated talks to reopen the Strait of Hormuz were progressing, easing supply disruption fears. Brent crude dropped 5% to $79.5 per barrel amid fluctuating market conditions.

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