Global oil prices remained near their highest level in more than a week on Tuesday as hopes for an agreement between the United States and Iran weakened, increasing concerns over the future of energy shipments through the Strait of Hormuz.

Brent crude futures for September delivery were little changed at $87.86 per barrel, while US West Texas Intermediate (WTI) crude stood at $82.38 per barrel. Both benchmarks had gained more than 5% on Monday, reaching their highest levels since July 31.

Analysts said US President Donald Trump’s demand that Iran compensate for deaths and damage caused during the conflict could make negotiations more difficult. The development has raised doubts over efforts to end the conflict and reopen the strategic waterway.

Tim Waterer, chief market analyst at KCM Trade, said there was a clear difference between the positions of Washington and Tehran on a possible agreement, suggesting that optimism seen last week was fading.

Regional tensions have also affected Saudi Arabia’s energy sector. Saudi Aramco postponed the restart of its 400,000-barrel-per-day Jazan refinery after attacks were claimed by Yemen’s Houthis.

Analysts warned that risks to shipping through Hormuz and Bab al-Mandab remain high. Higher insurance costs, longer routes and further attacks could restrict global energy supplies in the short term.