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Jazan Refinery

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Line of pumpjacks against a stunning rocky landscape at sunset in Karamay, Xinjiang, China.
FORECASTSAUG 11, 2026
Oil Price Forecast: WTI and Brent Climb as US Iran Deal Hopes Fade
Oil prices stayed near a one week high as weaker optimism over a US Iran peace agreement kept geopolitical risk priced into crude markets. WTI is testing higher resistance after nearing $82, while Brent remains above $90.50 as traders monitor Hormuz flows, refinery delays, and technical breakout levels.