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The Economic Times

Markets / The Economic Times

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Oil slips, heads for weekly loss as Hormuz deal uncertainty persists

Oil prices declined as investors weighed prospects of reopening the Strait of Hormuz against persistent geopolitical risks. Markets also awaited US payrolls data, while uncertainty over Iran-related negotiations, shipping arrangements and regional security kept crude prices volatile despite easing supply concerns.

7 Aug 2026 7:06 pm