Crude prices fall as US-Iran deal reopens Hormuz after over 100 days | TheBriefWire
Crude prices fall as US-Iran deal reopens Hormuz after over 100 days
Published 18 June 2026 ยท finance
Oil prices dropped significantly as the US and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions
Oil prices dropped significantly as the US and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions on Tehran's oil. This deal, aiming to restore pre-war conditions, could resolve a major energy supply disruption and potentially lead to a global oil surplus by 2027.
Published: June 18, 2026 โข 7:22 AM IST ยท Updated: June 18, 2026 โข 7:32 AM ISTBy TheBriefWire Editorial Team
Key points
Oil prices dropped significantly as the US and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions on Tehran's oil.
This deal, aiming to restore pre-war conditions, could resolve a major energy supply disruption and potentially lead to a global oil surplus by 2027.