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Oil prices rise cautiously amid stalled U.S.-Iran Strait of Hormuz deal talks

Market News
11 Aug 2026
CNBC
View Source
Neutral
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Oil prices remain below recent highs as hopes for a quick U.S.-Iran deal to reopen the Strait of Hormuz fade. Despite Washington signaling progress, Tehran demands conditions before reopening, causing uncertainty. Analysts warn that if the deadlock continues, oil prices could surge significantly, potentially reaching $120-$140 per barrel by Q4 due to supply constraints and depleted inventories. Factors like rising Chinese crude imports and attacks on Saudi infrastructure add to the risk of higher prices if the strait stays closed.

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Boston Scientific posts strong Q2 growth despite U.S. challenges, stock now valued attractively.

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US judge dismisses bribery case against Indian billionaire Gautam Adani amid DOJ concerns

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