Oil Holds Near $79 as Hormuz Reopening Hopes Meet Physical Risk

August 5, 2026

News summary: Reuters reported Brent settled 9 cents higher at $79.45/bbl while WTI fell 55 cents to $75.22/bbl as the market weighed possible de-escalation against continuing shipping and supply disruption.

Market context: Eight vessels crossed Hormuz versus roughly 130–140 before the war, so headline optimism had not yet restored normal vessel availability, insurance or delivery confidence.