Summary
- BlockBeats reported that WTI crude futures fell 3.00% intraday to $77.65 a barrel, based on Bitget pricing.
- BlockBeats reported that US Treasury Secretary Scott Bessent said the US and Iran could reach an agreement to reopen the Strait of Hormuz.
- Expectations for the Strait of Hormuz to reopen eased supply disruption concerns and put downward pressure on international oil prices.
WTI crude futures fell 3% during intraday trading.
BlockBeats reported on Aug. 4 that WTI crude futures fell 3.00% to $77.65 a barrel during the session, based on Bitget pricing.
Earlier in the day, US Treasury Secretary Scott Bessent said the US and Iran could reach an agreement as soon as Aug. 5 to reopen the Strait of Hormuz. Expectations that the key shipping route for Middle Eastern crude could reopen eased concerns over supply disruptions, weighing on international oil prices.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.