15:58 - 5.08.2026

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August 5, Fineko/abc.az. Global oil prices rebounded as concerns over potential escalation between the US and Iran resurfaced. Brent crude rose by $1.12 to $84.89 per barrel, while WTI gained 1% to reach $81.11.

Prices had plunged by 7% a day earlier following Donald Trump's remarks regarding a willingness to delay further military strikes against Iran. However, Tehran denied these claims, with an Iranian Foreign Ministry spokesperson stating that no negotiations are taking place with Washington. ING analysts noted that the previous sell-off was overdone, pointing out that escalation risks remain high and disputes surrounding the Strait of Hormuz remain unresolved.

The US is reportedly evaluating three strategic options — intensifying military pressure, tightening sanctions, or withdrawing from the conflict. Analysts warn that if Washington refrains from military action, Iran may move to resume its nuclear program.