According to CoinMeta, and as reported by Reuters, on Thursday the price of Brent crude oil was $87.43 per barrel, while West Texas Intermediate crude oil was $81.86 per barrel. This is due to negotiations underway between Iran, Oman, and Qatar aimed at alleviating supply disruptions in the Strait of Hormuz. Although crude oil prices have fallen from recent highs, tight diesel inventories, high prices for refined products, and expectations of a global crude oil supply gap continue to put new supply pressures on the market.