Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Oil Holds Drop After Erasing Most Wartime Gains as Supply Swells
Business & Finance

Oil Holds Drop After Erasing Most Wartime Gains as Supply Swells

Oil Holds Drop After Erasing Most Wartime Gains as Supply Swells
Bloomberg Markets Wednesday 24 June 2026, 22:02 UTC By Yongchang Chin 1 min read
Key Points

Oil Holds Drop After Erasing Most Wartime Gains as Supply Swells Oil was steady following a run of losses that’s erased most of the wartime price gains, with fears of a supply crunch subsiding as more ships transit the Strait of Hormuz after early progress on a peace deal. West Texas Intermediate traded below $70 a barrel after tumbling almost 4% in the previous session. Brent crude closed near $74.

Oil Holds Drop After Erasing Most Wartime Gains as Supply Swells Oil was steady following a run of losses that’s erased most of the wartime price gains, with fears of a supply crunch subsiding as more ships transit the Strait of Hormuz after early progress on a peace deal. West Texas Intermediate traded below $70 a barrel after tumbling almost 4% in the previous session. Brent crude closed near $74. Key parts of the market are suddenly awash in supply as buyers find themselves inundated with oil offers from the Middle East and other regions such as Africa.
Oil Holds Drop (ORG) the Strait of Hormuz (LOCATION) West Texas Intermediate (ORG) Brent (PERSON) the Middle East (LOCATION) Africa (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

No respite for Tata Sons as RBI tightens NBFC norms

MUMBAI: Reserve Bank of India has rebuffed calls to raise the asset threshold for upper-layer NBFCs to Rs 2.5 lakh crore, sticking to Rs 1 lakh crore threshold—a decision that keeps Tata Sons, the holding company of India’s largest conglomerate, firmly within its supervisory bracket and subject to listing requirements. Industry stakeholders had argued that the threshold should be set at Rs 2.5 lakh crore or higher, with complementary objective metrics of profitability and asset quality to...

Times of India 19m ago

Jinko Solar Eyes Breakeven in 2026

Jun 25th, 2026 Jinko Solar Eyes Breakeven in 2026 inko Solar, one of the top five solar manufacturers in China, is looking to recoup expenses this year, as government measures alleviate the chronic overcapacity that has plunged the sector into more than two years of deep losses.

Bloomberg Markets 19m ago

Four iconic pub favourite crisp flavours axed as fans call it 'end of an era'

Four iconic pub favourite crisp flavours axed as fans call it 'end of an era' KP Snacks has confirmed it has discontinued four fan-favourite crisp flavours including Beef, Cheese & Onion, Salt & Vinegar and Salted - and shoppers are not happy Four much-loved crisp flavours have been axed — much to the disappointment of its core group of fans. KP Snacks has discontinued several firm-favourite crisps. The snacks weren't stocked in supermarkets, but could be picked up in corner shops, pubs and...

Daily Mirror 25m ago

What’s at Stake If Indonesia Loses Its Emerging Market Status

What’s at Stake If Indonesia Loses Its Emerging Market Status Indonesia has spent decades establishing itself as one of the world’s most important emerging markets. Now the country — Southeast Asia’s largest economy, with a gross domestic product of about $1.5 trillion — risks losing that standing, potentially jeopardizing billions of dollars in foreign investment. In January, index provider MSCI Inc. warned that it might downgrade Indonesia’s equity market from “emerging” to “frontier.”

Bloomberg Markets 26m ago