# Oil prices ease as Iran-Oman talks raise Strait of Hormuz hopes 2026-08-06T06:16:12+00:00 | India | Indian Opinion Desk Crude oil slipped in early trade on Thursday, with markets reacting to reported movement in Iran-Oman talks and weighing whether Washington and Tehran might reach a wider diplomatic breakthrough, the Free Press Journal reported. Brent futures fell 37 cents to $79.08 a barrel, while US West Texas Intermediate declined 53 cents to $74.69. Sources cited by Reuters said a proposed Iran-Oman arrangement could let Tehran retain control of ships passing through the Strait of Hormuz, a concession Washington had previously ruled out. President Donald Trump indicated a deal to reopen the strait could arrive soon, even as Iran cautioned Gulf states that any new US military action could draw retaliation against energy infrastructure in the region. Yemen's Houthi militants claimed missile strikes on Saudi tankers near Yanbu and in the Gulf of Aden, incidents Saudi authorities have not confirmed. ## Indian Opinion Analysis The specific price moves are a snapshot of one trading session and carry no lasting value beyond that day. The more durable elements, the disputed Iran-Oman shipping proposal and the unconfirmed Houthi attack claims, remain unresolved in this report and should not be read as settled. A confirmation or a denial of the Strait of Hormuz proposal from US officials would move this story forward. ## Coverage - www.freepressjournal.in Tags: Strait of Hormuz Canonical: https://indianopinion.org/oil-prices-slip-below-80-per-barrel-as-iran-oman-talks-raise-hopes-of-us-iran-deal/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/oil-prices-slip-below-80-per-barrel-as-iran-oman-talks-raise-hopes-of-us-iran-deal/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.