Oil drifts lower as Strait of Hormuz reopens, focus shifts to demand outlook

Oil was in choppy trade on Friday, as markets assess the implications of the interim U.S.-Iran deal and signs that shipping activity through the Strait of Hormuz is recovering. International benchmark Brent crude futures for August fell 0.45% to $79.49 a barrel. U.S. West Texas Intermediate futures for July declined 0.31% to $76.36 per barrel. Stock Chart IconStock chart icon Vice…

Read More

shipping resumes as fragile peace takes hold

The first signs of a post-war recovery are emerging across the Middle East after the U.S. and Iran signed a memorandum aimed at ending the conflict. Oil tankers are once again transiting the Strait of Hormuz, and daily routines are returning to the streets of Tehran. Here are some images related to the deal: Strait…

Read More

Vance defends Trump peace deal with Iran

US Vice President JD Vance speaks during a press briefing in the Brady Briefing Room of the White House in Washington, DC, on June 18, 2026. Ken Cedeno | AFP | Getty Images Vice President JD Vance defended President Donald Trump’s interim peace deal on Thursday, insisting the United States is not paying the Islamic…

Read More