Oil tumbles as Strait of Hormuz reopens

Oil prices continue to slide after U.S. President Trump and his
Iranian counterpart Masoud Pezeshkian signed an interim
deal to end hostilities and negotiate a lasting peace

BRENT CRUDE PRICE, 2026 ($)

120
115
110
105
100
95
90
85
80
75
70
65
60
55

Jan Feb Mar Apr May Jun

Jan 2
$60.75

Mar 31
$118.35

Jun 18
$77.00

Feb 28: U.S.
and Israel begin
attacks on Iran –
Strait of Hormuz
effectively
closes

Apr 13: U.S.
blockades
Strait of
Hormuz

Jun 17: Interim
peace deal
signed

Sources: Al Jazeera, Yahoo! Finance
Data as of 1450GMT, Jun 18
© GRAPHIC NEWS