Brent crude falls to $87.35

Oil prices have declined on hopes for the normalization of vessel traffic through the Strait of Hormuz, Report informs, citing trading data.

October futures for Brent crude fell on the London ICE Futures exchange by 0.56% to $87.35 per barrel.

October futures for WTI crude decreased on the electronic trading of the New York Mercantile Exchange (NYMEX) by 0.56% to $81.77 per barrel.

On August 26, the Islamic Revolutionary Guard Corps (IRGC) announced that representatives of Iran and Oman agreed to share revenues generated from securing shipping in the Strait of Hormuz.