Brent crude falls for a fourth session after Qatar announces talks with Iran over reopening the Strait of Hormuz.
Oil prices extended losses as Qatar’s prime minister visited Tehran to discuss reopening the Strait of Hormuz. Brent crude traded at $87.46 per barrel, while West Texas Intermediate fell to $81.83, despite reports of a tanker strike in the strait.
The decline follows four consecutive sessions of losses, with markets focusing on potential easing of regional tensions rather than supply disruptions. Iran’s Foreign Ministry confirmed the visit but provided no further details on the discussions.
No immediate market reaction was reported beyond the price decline.