Oil price falls to levels not seen since before Iran war (opens original article in a new tab)

Oil prices dropped to pre-Iran war levels as shipping traffic through the Strait of Hormuz gradually resumes following a US-Iran agreement and peace talks.

• Oil price fell to levels not seen since before the Iran war as traffic through the Strait of Hormuz resumes
• Brent crude briefly fell below $72.48 a barrel, the price before US and Israel attacks on Iran on 28 February
• Vessels crossing the Strait of Hormuz have increased significantly since a US-Iran MOU on 17 June, though still below pre-war levels