Oil prices slipped on Thursday (August 6, 2026) as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end the five-month war and reopen the Strait of Hormuz.
Brent crude futures fell 37 cents, or 0.5%, to $79.08 a barrel by 0024 GMT. U.S. West Texas Intermediate futures declined 53 cents, or 0.7%, to $74.69 a barrel. Brent settled up slightly on Wednesday, while WTI edged lower.
“Some selling pressure emerged following reports that talks between Iran and Oman are making progress,” said Yuki Takashima, economist at Nomura Securities.
– Reuters
