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Oil prices drop more than 5%

BSS
Published On: 16 Jun 2026, 23:17

LONDON, June 16, 2026 (BSS/AFP) - Global oil prices tumbled more than five percent on Tuesday as speculation mounted that sanctions on Iranian crude could be eased as part of the deal to end the Middle East war.

Around 1650 GMT international benchmark Brent crude fell 5.0 percent to $79 a barrel. The US benchmark, WTI crude, tumbled 5.9 percent to $75.97 a barrel.
 

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