Shafaqna English– Crude oil prices declined further during Thursday’s(27 Aug 2026) trading session, adding to a series of consecutive daily losses, as market participants grew increasingly optimistic that ongoing diplomatic negotiations between Iran and Qatar could potentially lead to the reopening of the Strait of Hormuz, thereby alleviating the supply bottlenecks and logistical disruptions that have been caused by the protracted conflict in the Middle East.
By 3:30 AM Greenwich Mean Time, Brent crude futures had declined by 41 cents, representing a 0.5% drop, bringing the price to $87.43 per barrel, positioning the benchmark for its fourth successive daily decline. Simultaneously, West Texas Intermediate crude futures recorded a 37-cent decrease, also equivalent to a 0.5% loss, trading at $81.86 per barrel and appearing set for a fifth consecutive session of declines.
Source: Reuters