Oil Steady as US-Iran Talks Stall, Hormuz Traffic Lags
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- Oil prices edged higher in thin trade as Middle East tensions lingered and US-Iran peace talks stalled, per Bloomberg's markets wrap
- Strait of Hormuz traffic remained low as of August 13, 2026, with Reuters reporting Hormuz shipping has slowed amid the diplomatic deadlock that the WSJ says may continue to buoy crude
Why it matters: With US-Iran talks stalled and Hormuz transit depressed, the supply-side pressure keeping oil elevated has no near-term resolution, meaning every renewed diplomatic signal from either side becomes the next catalyst for crude direction.
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