---
title: "Oil Prices Surge Again: Market Awaits Resolution in US-Iran Conflict"
description: "Oil prices are rising again amid uncertainty in US-Iran relations. Trump promised negotiations, but Tehran denied their existence. The market awaits new signals from politicians. 🛢️📉📈"
date: 2026-08-04T09:56:00.000Z
lang: en
url: https://xab.info/en/posts/oil-prices-surge-again-market-awaits-resolution-in-us-iran-conflict
tags: [trump, iran, oil-prices, brent, geopolitics]
publisher: "XAB.info"
---

# Oil Prices Surge Again: Market Awaits Resolution in US-Iran Conflict

![Oil platform at sea with flying birds: symbol of rising oil prices amid US-Iran conflict](https://xab.info/media/2026/08/04/neft-snova-v-tsene-rynok-zhdet-razvyazki-v-konflikte-ssha-i-irana/neft-snova-v-tsene-rynok-zhdet-razvyazki-v-konflikte-ssha-i-irana-1.webp)

The energy market has once again demonstrated high volatility. On August 4, oil prices spiked, reflecting uncertainty in diplomatic relations between the US and Iran. Investors are anxiously monitoring the situation, fearing a new escalation of the conflict.

### Sharp Reversal in Quotes

Brent crude futures for the nearest month delivery rose by $1.04, or 1.24%. The cost of a barrel reached $84.81. This growth appears particularly stark against the backdrop of previous trading sessions: the day before, Brent quotes plummeted by 7%, dropping to a three-week low.

Similar dynamics are observed with American oil. The West Texas Intermediate (WTI) grade increased by 30 cents, or 0.37%, to $80.64 per barrel. It is worth noting that in the previous session, its price fell by more than 5%, hitting a bottom in nearly a week.

### Diplomatic Deadlock

The key factor influencing the market has been contradictory statements from national leaders. Earlier, US President Donald Trump announced a temporary restraint from new strikes on Iran until negotiations on ending the war are concluded. This message acted as a catalyst for the sharp price drop the day before.

However, the situation was complicated by a denial from Tehran. On August 3, the spokesperson for the Iranian Ministry of Foreign Affairs, Esmaeil Baghaei, stated that there are currently no negotiations or scheduled meetings with the US. Such a discrepancy in the positions of the parties has once again plunged the market into uncertainty.

### Investor Caution

Experts note that the market remains extremely sensitive to geopolitical news. Pepperstone research strategist Ahmad Assiri explained that the current price increase indicates that investors are still not fully ready to factor in the risk of a new escalation.

Against this backdrop, Donald Trump also voiced possible timelines for the full opening of the Strait of Hormuz, which is strategically important for global trade. At the same time, the US President continued his tough rhetoric, threatening Iran with "total capitulation" and nuclear disarmament, while simultaneously explaining the reasons for his recent "step back" in the escalation of the conflict in the Middle East.