Oil Price Today (June 19): Crude oil falls, heads for 9% weekly loss as shipping in Hormuz Strait begins. What are experts saying? (opens original article in a new tab)

Oil prices declined on Friday, heading for a 9% weekly loss as shipping through the Strait of Hormuz resumes following a US-Iran agreement, with Kuwait planning to boost production.

• Brent crude fell to $79 a barrel, down over 9% for the week
• Tankers began moving through the Strait of Hormuz after US-Iran agreement
• Kuwait plans to increase oil production as shipping resumes