business π’ Oil Prices Hold Steady Amid Hormuz Talks π’
Crude oil prices saw minimal changes after reports surfaced that the US, Iran, and Oman are negotiating a transit deal for the Strait of Hormuz. These three nations are working on an interim agreement allowing inbound ships to pass through Iran's waters and outbound ships via Oman. Brent crude rose 7 cents to $79.43 per barrel, while WTI futures dipped 50 cents to $75.27. This waterway is crucial for transporting oil, gas, and other industrial goods. Officials suggest a final deal to unlock the route could potentially be reached sometime this week.