Oil prices jump further as hopes for Hormuz deal fade

Oil prices surged as hopes for a Strait of Hormuz deal diminish, fanning inflation fears and increasing bets on US interest rate hikes. Get the latest on c

The Briefing Africa

August 11, 2026 · 08:15 · 5 min read

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Oil prices surged as hopes for a Strait of Hormuz deal diminish, fanning inflation fears and increasing bets on US interest rate hikes. Get the latest on c

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Oil prices jump further as hopes for Hormuz deal fade