Brent fell to US$88.58 and West Texas to US$82.36 per barrel on 25 Aug 2026, after Iran and Oman agreed to talks on a temporary joint shipping corridor and to clear mines in the Strait of Hormuz. US diplomats are returning to the Middle East, which lowers near-term escalation risk. A tanker was still hit near the strait's entrance, so the risk is not gone. For Thai SMEs, fuel and transport costs may ease somewhat, but do not cut diesel or freight budgets yet; watch pump prices and supplier surcharges over the next few weeks before repricing.