
Oil Drops 4% as US-Iran Ceasefire Raises Hopes for Hormuz Reopening
Oil prices tumbled after the US and Iran agreed to a 60-day ceasefire, raising expectations that the Strait of Hormuz will reopen. Brent crude fell below $84 per barrel while WTI dropped near $81, as investors welcomed signs of improving global oil supply and reduced geopolitical risks.
Jun 15, 2026Read news →









