Oil prices fall on hopes Strait of Hormuz could reopen
US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to resume.
Coverage by Political Leaning
See how different sides of the spectrum reported this story
Notable Quotes
"There's been progress made in those talks, but not finality yet. We're hoping that will happen very shortly."
— Marco Rubio , Politician
"There was a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."
— Scott Bessent , Executive
Key People
Locations
All Coverage
US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to resume.
Similar Stories
Related coverage based on topic and tags
Oil treads water as US-Iran peace talks stall, Hormuz shipping slows - Reuters
Oil treads water as US-Iran peace talks stall, Hormuz shipping slows Reuters
August 17, 2026 at 12:39 AMSaudi Arabia resumes oil loadings, sales from inside Strait of Hormuz - Reuters
Saudi Arabia resumes oil loadings, sales from inside Strait of Hormuz Reuters
August 18, 2026 at 10:15 AMOil extends climb on prolonged Hormuz export uncertainty - Reuters
Oil extends climb on prolonged Hormuz export uncertainty Reuters
August 19, 2026 at 12:39 AMOil climbs as fading US-Iran peace hopes raise supply risks - Reuters
Oil climbs as fading US-Iran peace hopes raise supply risks Reuters
August 18, 2026 at 01:13 AMOil market starts pricing in a prolonged Hormuz crisis - Reuters
Oil market starts pricing in a prolonged Hormuz crisis Reuters
August 18, 2026 at 06:00 AMShipping slows through Strait of Hormuz after tanker attacks, data shows - Reuters
Shipping slows through Strait of Hormuz after tanker attacks, data shows Reuters
August 16, 2026 at 11:54 PM