Oil Prices On Aug. 17: Oil prices barely moved in early trade on Monday as tanker traffic through the Strait of Hormuz slowed over the weekend with no peace deal in sight between the United States and Iran to end the conflict in the Middle East.
Brent crude futures climbed 20 cents, or 0.2%, to $88.72 by 2350 GMT, while U.S. West Texas Intermediate crude futures slipped 5 cents to $82.35 a barrel.
Both contracts gained more than 5% last week following attacks on tankers operated by Abu Dhabi National Oil Company in the Hormuz strait and on a Saudi Aramco refinery.
Over the weekend, Iranian Foreign Minister Abbas Araqchi said Iran had not decided to resume talks with the U.S. while U.S. President Donald Trump urged Americans to accept slightly higher gasoline prices while the conflict continues.
Shipping through the Strait of Hormuz slowed over the weekend, data showed on Monday, following attacks on tankers. Five commodity vessels transited the strait on Saturday, with none registered for Sunday, shiptracking data from Kpler showed, versus 31 in the prior weekend.
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