Oil prices fall to pre-Iran war levels
financeJun 25, 202649144
On June 25, 2026, global benchmark Brent crude briefly fell below $72.48 a barrel, returning oil prices to levels seen before the US-Iran war began. The decline followed a gradual resumption of tanker traffic through the Strait of Hormuz after Iran's earlier disruptions, which eased immediate supply concerns. Shipping backlogs remain significant, with about 500, 600 tankers waiting and roughly 11,000 seafarers still stranded, and the price drop has prompted some economists to scale back expectations for European Central Bank interest-rate increases.
