Oil Price Today (August 4): Crude oil nears $85 as peace talks uncertainty loom after fresh attacks. What are experts saying?

Crude oil prices reached $84.50 a barrel on August 4 after recent losses. Prices rose as supply risks returned following fresh attacks near the Strait of Hormuz. Diplomatic hopes faded as Iran said no negotiations are underway with the United States. Experts said prices will depend on how long disruptions persist.