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Oil Slumps as Trump Says Iran Deal Agreed and Hormuz to Reopen

Oil Slumps as Trump Says Iran Deal Agreed and Hormuz to Reopen
Bloomberg Markets Sunday 14 June 2026, 22:01 UTC By Rong Wei Neo 1 min read
Key Points

Oil Slumps as Trump Says Iran Deal Agreed and Hormuz to Reopen Oil dropped after President Donald Trump said a deal with Iran was complete, potentially allowing the Strait of Hormuz to reopen. Brent fell more than 3% toward $84 a barrel, after closing last week at the lowest in more than three months, while West Texas Intermediate was near $81. The US leader said in a social-media post he was authorizing the “toll free opening” of Hormuz, as well as ending a blockade of the Islamic Republic.

Oil Slumps as Trump Says Iran Deal Agreed and Hormuz to Reopen Oil dropped after President Donald Trump said a deal with Iran was complete, potentially allowing the Strait of Hormuz to reopen. Brent fell more than 3% toward $84 a barrel, after closing last week at the lowest in more than three months, while West Texas Intermediate was near $81. The US leader said in a social-media post he was authorizing the “toll free opening” of Hormuz, as well as ending a blockade of the Islamic Republic.
Trump (ORG) Iran (LOCATION) Hormuz (LOCATION) Reopen Oil Slumps (ORG) Reopen Oil (ORG) Donald Trump (PERSON) the Strait of Hormuz (LOCATION) Brent (PERSON) US (LOCATION) the Islamic Republic (LOCATION)
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