Oil prices sink as US-Iran pause fuels fresh Hormuz hopes
Photo: Free Malaysia Today
Donald Trump’s decision to hold off further strikes and Iran’s progress in Oman talks over the Strait of Hormuz offer some relief.
From the original report
HONG KONG : Oil prices tumbled Monday as a pause in tit-for-tat strikes between the US and Iran boosted hopes for a return to their ceasefire and negotiations on reopening the Strait of Hormuz. After 13 days of attacks on sites in the Islamic republic, the United States held fire over the weekend and Donald Trump’s UN envoy said the US president was “giving talks some space”.
Tehran in turn said it would stop its retaliatory attacks on regional neighbours, handing Gulf shipping and the oil industry a respite.
…
This is a brief of a report by another newsroom. The excerpt below is from the original.
Read the full report at Free Malaysia Today
Free Malaysia Today
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About this story
- Source
- Free Malaysia Today
- Originally published
- Jul 27, 2026
- Updated here
- Aug 15, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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