10:13 AM EDT, 08/07/2026 (MT Newswires) -- Oil prices edged down slightly Friday morning as traders awaited details on a possible deal between Iran and Oman to partially reopen the Strait of Hormuz to international shipping, CNBC reported.

West Texas Intermediate September crude oil futures, the US benchmark, fell $0.27 or 0.4% to $77.02 per barrel. Brent crude oil, the international benchmark, fell $0.41, or 0.5% to $82.07 a barrel for October delivery.

Comex gold for December delivery continued to climb higher to a near two-month high. The precious metal added $112.30, or 2.6%, to $4,411.90 per ounce.

In agricultural commodities, September wheat futures rose 1.43% to $6.40 per bushel, while November canola futures rose 0.2% to C$770.30 per tonne.