Oil Rises Again as US-Iran Hormuz Talks Stall, Wiping Out Early-August Price Drops

Brent crude rose for a second straight session on August 11, 2026, after roughly 5% jumps on August 9 and 10, erasing early-August losses. US-Iran negotiations over reopening the Strait of Hormuz — a waterway carrying about a fifth of global oil and gas — stalled as both sides demanded compensation. The whipsaw leaves prices swinging on each diplomatic headline rather than supply fundamentals.