The Economic Times

Oil Price Today (August 10): Crude oil rises to $85 amid Hormuz worries as attacks continue. What are experts saying?

Oil prices climbed Monday as Strait of Hormuz reopening remained uncertain. Iran stated a deal with Oman was nearing completion for new shipping lanes. Attacks on Saudi and UAE facilities heightened supply concerns over the weekend. Analysts predict significant price increases if disruptions continue for months. Oil is expected to cool as supply expands and demand moderates.