WTI Falls as Iran Talks Stall and Demand Weakens in Oil & Companies News 08/06/2026 WTI crude oil futures slid 3% to around $90.3 per barrel on Friday as markets focused on signs of weaker global demand and the lack of a breakthrough in negotiations between Washington and Tehran. Although President Trump maintained that discussions with Iran are progressing, tensions remain elevated, with disagreements over Lebanon continuing to complicate efforts to secure a broader agreement. Concerns about consumption also weighed on prices after Chinese crude imports fell to their lowest level in ten years, reflecting reduced refinery activity and softer demand. Several analysts now expect global oil demand growth to slow significantly this year. Earlier gains driven by fears of prolonged disruptions in the Strait of Hormuz have faded somewhat, though uncertainty over the region remains high. In Oman, operations at the Mina Al Fahal export terminal were briefly disrupted by an explosion before resuming. Source: Trading Economics 2026-06-08 hellenicshippingnews... tweet Share