en.Wedoany.com Reported - Driven by optimistic expectations that the United States and Iran may soon reach an agreement regarding the Strait of Hormuz, international crude oil futures prices fell rapidly in early trading on the 4th, consolidated weakly during the session, and closed with a significant decline of over 5%.

By the close of trading that day, light crude oil futures for September delivery on the New York Mercantile Exchange fell $4.57 to settle at $75.77 per barrel, a drop of 5.69%; Brent crude oil futures for October delivery on the London ICE Futures Exchange fell $4.41 to settle at $79.36 per barrel, a decline of 5.26%.

According to US media reports on the 4th, US Treasury Secretary Bessent stated that an agreement on the Strait of Hormuz could be reached on the 4th or 5th. Bessent remarked, "Even right now, you can see many ships leaving the Strait of Hormuz."

Iranian Foreign Ministry spokesperson Baghaei said on the 4th that Iran is still negotiating with Oman over the Strait of Hormuz, and the talks have made "positive progress" at both technical and political levels.

However, TD Securities strategist Ryan McKay said in a research report on the 4th that it is unlikely Iran will reach any agreement without control over the Strait of Hormuz. Given that current oil shipping volumes already match production, even if a relevant agreement is reached, the potential for increased oil transportation remains minimal.