Crude Oil Prices Stabilize as Hormuz Reopens, OPEC+ Eyes Output Hike

Oil Prices Asia, The Business Times, Reuters, Trading Economics · Jul 04, 2026 00:00

Brent crude is around $72.12/bbl, WTI at $68.78/bbl, and Dubai crude at $64.50/bbl as of July 4, 2026. Prices are near pre-war levels due to recovering Strait of Hormuz shipping and ongoing US-Iran peace efforts. OPEC+ is set to approve a 188,000 bpd output increase for August, adding to supply.