Oil drifts lower as Hormuz flows balance slow progress in Iran diplomacy
August 28, 2026
(Investing) – LONDON – Oil prices fell on Friday and were on track for a weekly drop as traders weighed crude flows making it through the Strait of Hormuz against the deadlock in U.S.-Iran diplomacy. Brent crude futures were down 52 cents or 0.6% at $89.18 a barrel at 1419 GMT. West Texas Intermediate crude futures fell $1.01, or 1.2%, to $82.52. Both
