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Oil prices rebound amid US-Iran tensions; WTI eyes $90, Brent holds above $85 for recovery.

Market News
03 Aug 2026
FXEmpire
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Neutral
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Oil prices rose slightly after a recent drop due to ongoing uncertainty over US-Iran talks and potential supply disruptions near the Strait of Hormuz. WTI crude needs to break above $90 to target $100, while Brent crude remains positive above $85 but must clear $90 to push higher. Market volatility is expected to continue until clear diplomatic progress is made, with geopolitical risks keeping prices sensitive to developments in the Middle East.

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