Crude slips toward $70 as tankers return to Hormuz after US-Iran reach peace deal | TheBriefWire
Crude slips toward $70 as tankers return to Hormuz after US-Iran reach peace deal
Published 25 June 2026 ยท finance
Crude oil prices have plummeted towards pre-war levels as tanker traffic through the Strait of Hormuz resumes, alleviating supply worries. Following a surge past $126
Crude oil prices have plummeted towards pre-war levels as tanker traffic through the Strait of Hormuz resumes, alleviating supply worries. Following a surge past $126, oil is now hovering around $70. Improved shipping and potential Iranian exports have eased fears of disruptions, leading to a significant price drop. Traders are now anticipating a surplus as physical crude trades at discounts.
Published: June 25, 2026 โข 7:14 AM IST ยท Updated: June 25, 2026 โข 7:33 AM ISTBy TheBriefWire Editorial Team
Key points
Crude oil prices have plummeted towards pre-war levels as tanker traffic through the Strait of Hormuz resumes, alleviating supply worries.
Following a surge past $126, oil is now hovering around $70. Improved shipping and potential Iranian exports have eased fears of disruptions, leading to a significant price drop.
Traders are now anticipating a surplus as physical crude trades at discounts.