Oil Price Today (August 4): Crude oil nears $85 as peace talks uncertainty loom after fresh attacks. What are experts saying?

August 4, 2026

Oil prices saw a slight increase on Tuesday after significant Monday losses. Supply risks in the Middle East resurfaced as diplomatic hopes faded. Shipping activity through the Strait of Hormuz has slowed following reported attacks. Experts predict higher crude prices if disruptions persist for extended periods. Analysts anticipate oil prices to cool down as supply outside conflict zones expands.

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