Shafaqna English– After a precipitous drop in the previous day’s trading, oil prices managed a slight rebound on Tuesday(4 Aug 2026), driven by unresolved geopolitical tensions in the Middle East – namely, the ongoing U.S.-Iran war, which has already disrupted crude exports from the region and shows no signs of diplomatic resolution, thereby reinforcing market fears that supply constraints could intensify unless a ceasefire or peace deal materializes unexpectedly.
By 00:55 GMT, Brent crude futures for the nearest delivery month had climbed by 62 cents – a 0.7% appreciation – settling at $84.39 per barrel, a partial recovery from the prior session’s dramatic 7% plunge, which had driven prices down to their lowest level in three weeks.
Source: Reuters