Oil prices rise over 2% amid dent to US-Iran peace hopes

Iran Herald·August 11, 2026Sanctions

New Delhi [India], August 11 (ANI): Oil prices rose more than two per cent on Tuesday as hopes of a near-term US-Iran peace deal weakened amid US President Donald Trump's remarks that Washington would seek reparations from Tehran and that the US Navy has '100 per cent control' over the Strait of Hormuz. At the time of reporting, Brent crude was trading at USD 89. 806 per barrel, up 2.