WTI fell 5.11% to US$80.34 and Brent 4.73% to US$83.77 on 3 August after Trump said he cancelled strikes on Iran and talks were under way. Iran denies any negotiations are taking place, and OPEC+ is adding 188,000 barrels per day in September. Hormuz is still disputed. Do not bank on cheaper diesel or energy costs yet: the price drop depends on a deal that is not confirmed. Keep fuel and transport budgets at current levels and watch for a signed agreement before cutting prices or locking in cost assumptions.