According to CoinMeta, the prices of Brent crude oil and WTI crude oil continued to decline amid the easing tensions in the Strait of Hormuz. On Wednesday, Brent crude oil futures fell by $1.78, a 2% decrease, to $86.80 per barrel, while West Texas Intermediate (WTI) crude oil futures fell by $1.49, a 1.8% decrease, to $80.87 per barrel. Both had fallen by more than 3% on Tuesday. The latest sell-offs came following Iran's announcement that it had resumed negotiations with Oman to discuss the management of shipping in the Strait of Hormuz. Although market expectations for improved shipping conditions have risen, actual shipping activities remain restricted. Preliminary data show that only five cargo ships passed through the Strait of Hormuz on Tuesday, far lower than the average of 15 ships over the past 10 days. A report from the American Petroleum Institute (API) indicates that as of August 21, U.S. crude oil inventories increased by about 4.2 million barrels, significantly exceeding analysts' forecast of 600,000 barrels.