Oil held a decline as traders monitored efforts toward a deal that could reopen the Strait of Hormuz, while more attacks on tankers and energy infrastructure kept the market on edge. West Texas Intermediate traded near $81 a barrel after declining 2.4% in the previous session. Brent crude closed around $87 on Thursday. Iran and Oman remained short of an accord to reopen the crucial waterway, despite an upbeat tone earlier in the week that an agreement was close.

The market remains sensitive to geopolitical risks in the region, with any disruption to the Strait potentially impacting global oil supplies. Traders continue to assess the balance between potential supply increases from a reopened Strait and ongoing threats to tanker safety. Meanwhile, broader market sentiment is influenced by economic data and demand forecasts.

The situation in the Middle East, particularly the involvement of Houthi forces and Saudi Arabia, adds further uncertainty. Bloomberg Markets reported these developments on August 13, 2026.