CRUDE OIL PRICES FALL MORE THAN 3 PERCENT

NEW YORK, AUGUST 25 /SRNA/ - Crude oil prices fell by more than 3 percent today as signs emerged that tensions between the United States and Iran could ease.

U.S. crude, West Texas Intermediate /WTI/, was trading at around $82 a barrel, while North Sea Brent crude was around $88 a barrel, Trading Economics reported.

Pakistan’s Chief of Army Staff Asim Munir visited Tehran in support of diplomatic efforts, while Qatar said it was continuing its mediation efforts between the two sides.

Another indication that the situation could be easing is reports that Washington may soon return evacuated diplomats to the region, suggesting that a broader military escalation may be less likely than previously expected.

At the same time, Washington’s latest measures to increase economic pressure on Iran were milder than markets had anticipated.

U.S. Treasury Secretary Scott Bessent said countries trading with Iran would be given time to gradually wind down their business ties with Tehran or face unilateral sanctions.

Despite the new measures, significant volumes of crude oil continue to pass through the Strait of Hormuz, with some shipments being transported with increased discretion.