Oil Ends Lower as Hormuz Deal Rumours Meet Choppy Flows

August 28, 2026

News summary: Reuters reported Brent settled at $89.31/bbl and WTI at $83.40/bbl; both ended the week lower as traders weighed possible Hormuz progress against transit flows that remained inconsistent and below normal.

Market context: Rumours were not equivalent to restored capacity, so confirmed transit, loading evidence and insurer acceptance remained more important than headlines for physical execution.