Brent crude futures were down 41 cents, or 0.5 percent, to $87.43 a barrel

Brent crude dropped to $86.41 per barrel as Iran-Oman talks on a Strait of Hormuz maritime corridor lifted hopes for restored oil supply flows.

TOKYO/SINGAPORE: Oil prices fell more than $2 a barrel on Wednesday as talks between Iran and Oman revived hopes that the Strait of Hormuz could reopen and remove shipping…

Oil prices have declined as discussions between Iran and Qatar may pave the way for reopening the crucial Strait of Hormuz. This reopening could alleviate supply issues arising…

Oil prices extended their decline on Thursday as hopes of renewed Middle East diplomacy raised expectations that the Strait of Hormuz could reopen, easing concerns over prolonged…