Global Oil Prices Fall Amid Progress on Strait of Hormuz Talks

International Desk, Rtv News

Publish : 06 Aug 2026, 09:21 AM

Photo: Collected

Crude oil prices dipped slightly in international markets following reports of progress in discussions between Iran and Oman regarding the Strait of Hormuz.

Investors anticipate that a successful outcome could pave the way for a peace agreement between the United States and Iran, easing long-standing tensions and restoring normal shipping operations through the vital waterway.

British news agency Reuters reported this information.

According to the report, at 00:24 Greenwich Mean Time on Thursday (August 6), international benchmark Brent crude futures fell by 37 cents, or 0.5%, to $79.80 per barrel.

Meanwhile, U.S. West Texas Intermediate (WTI) crude futures dropped by 53 cents, or 0.7%, standing at $74.69 per barrel.

On Wednesday (August 5), Brent crude had ended trading with a marginal increase, while WTI crude closed with a slight decline.

Market analysts suggest that a potential peace pact between Washington and Tehran could bring an end to the conflict that has persisted for the past five months, while also allowing the Strait of Hormuz—one of the world's most critical energy transit routes—to reopen fully for unhindered maritime traffic.

Follow google news channel to get RTV news Google News

Related More News

Govt Adjusts Fuel Prices

The government has revised fuel oil prices at the consumer level for September. The Energy and Mineral Resources Division issued a notification in this regard yesterday.

BAJUS Increases 22-Carat Gold and Silver Rates

Revising domestic bullion rates Saturday, the Bangladesh Jewellers Association (BAJUS) elevated twenty-two-carat gold by BDT 1,691 per bhori to BDT 2,34,621 inclusive of value-added tax, taking effect at 10 am following domestic pure tejabi gold appreciation and broader market assessments.

US Airlines Cutting Flights Due to Rising Fuel Prices

Faced with rising jet fuel prices, several major US airlines are moving to reduce their number of flights. Officials from American Airlines, United Airlines, and Southwest Airlines stated on Wednesday (September 16) that they are reviewing flight schedules and adjusting capacity to manage increased fuel costs, according to a report by Fox Business.

918 MW Solar Power to be Added to the National Grid

The government has taken initiatives to increase electricity generation from renewable energy and reduce dependency on imported fossil fuels. As part of this, about 918 megawatts (MW) of solar power from the private sector are expected to be added to the national grid by 2028.

TCB Launches Digital Transformation Package Featuring 'Upokari' App and AI Tracking to Save BDT 350 Cr

The Trading Corporation of Bangladesh (TCB) has launched an ambitious digital transformation drive designed to streamline, sanitize and bring accountability to the distribution of subsidized consumer staples.