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Oil prices fall as Iran and Oman discuss reopening the Strait of Hormuz

IranOman
First seen: Aug 26, 2026, 12:32 PM UTCUpdated: Aug 27, 2026, 2:47 AM UTC

Oil prices continued to decline as Iran and Oman negotiated reopening the Strait of Hormuz.

The strait is a major energy chokepoint, so its reopening could materially affect global oil supply and prices.

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