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Oil prices fall as hopes rise for Hormuz reopening and Iran talks

Iran
First seen: Aug 27, 2026, 6:32 AM UTCUpdated: Aug 27, 2026, 12:32 PM UTC

Oil prices have fallen amid hopes that the Strait of Hormuz will reopen as negotiations involving Iran gain traction.

Developments around Hormuz can rapidly affect global energy prices and shipping.

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