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Oil prices tumble over 3% after Trump signs deal to reopen Hormuz

BSS
Published On: 18 Jun 2026, 12:51

TOKYO, June 18, 2026 (BSS/AFP) - Oil prices fell over three percent Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz.

At around 0625 GMT, the main US oil contract, West Texas Intermediate, sank 3.4 percent to $74.18 a barrel.

International benchmark Brent North Sea crude was down 3.02 percent at $77.15 a barrel.

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