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geopoliticsbearishWTIPublished Jun 24, 2026, 2:00 PM

Oil Prices Fall to 3-Month Low on Strait of Hormuz Reopening Hopes

Oil Prices Fall to 3-Month Low on Strait of Hormuz Reopening Hopes
Brent crude dropped about 5% for a second day amid details of an interim deal to end the Middle East war and reopen the Strait of Hormuz, enabling Iranian oil exports. Markets also weighed potential Russia-Ukraine peace impacting sanctions.

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