Aug. 26 at 2:51 AM
$NCLH Oil prices drop to
$86.80 a barrel
Oil prices are continuing their downward trajectory, with Brent crude futures dropping
$1.78, or 2.0 percent, to
$86.80 a barrel as of 00:27 GMT.
US West Texas Intermediate (WTI) crude went down
$1.49, or 1.8 percent, to
$80.87.
The fall came on new hopes that the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway, according to news reports. Both benchmarks lost more than 3 percent on Tuesday.
