International Oil Price Gives Back Some Gains as Oman and Iran Negotiations Ease Supply Concerns

BlockBeats News, August 11th: Brent crude oil and WTI futures partially gave back gains as the market focused on changes in the Middle East situation. A spokesperson for the Qatari Ministry of Foreign Affairs stated: "Negotiations between Oman and Iran have now entered an 'advanced stage.' We have received positive feedback from both countries, and the negotiations are at a critical moment. We support all de-escalation efforts. As a mediator, we hope to reopen the Strait of Hormuz as soon as possible. Qatar supports any solution that ensures the safety and freedom of navigation in the Strait of Hormuz, preventing it from becoming a tool of political pressure."