# Oil Holds Two-Day Drop on Signs of Progress Toward Hormuz Deal

https://mins.news/en/item/13610

- Bloomberg News, 2026-08-05 03:00 UTC
- Economy
- Original: https://www.bloomberg.com/news/articles/2026-08-04/latest-oil-market-news-and-analysis-for-aug-5?link_source=ta_bluesky_link&taid=6a72a73b16de0200012b5601

> Oil prices extended their decline for a third consecutive day as signs of progress raised optimism that an agreement could reopen the Strait of Hormuz. Such a deal could release supplies currently held up in the Persian Gulf. The market is focusing on whether negotiations can restore passage through the strategic waterway. The move follows two days of earlier losses.

## Stories

- [Iran US War and Gulf Escalation](https://mins.news/en/topic/iran-us-war-and-gulf-escalation) — Markdown: https://mins.news/en/topic/iran-us-war-and-gulf-escalation.md

## Related coverage

- [Iran, Oman and US ‘close’ to Hormuz deal: What does each side want?](https://mins.news/en/item/14071) — Al Jazeera, 2026-08-05
- [Middle East crisis live: US and Iran signal hope for Hormuz deal but terms unclear](https://mins.news/en/item/14067) — The Guardian, 2026-08-05
- [Push to Reopen Strait of Hormuz Gains Momentum](https://mins.news/en/video/13772) — Bloomberg Television, 2026-08-05