Oil price falls to pre-Iran war levels as more tankers exit strait of Hormuz

The Guardian World Thursday 25 June 2026, 07:39 UTC By Julia Kollewe 1 min read

Key Points

Fears of long-lasting energy crunch ‘slinking away’ as vessel traffic doubled in 24 hours to highest level since late FebruaryBusiness live – latest updatesOil prices have fallen below levels seen before the Iran war started in late February as more oil tankers exited the strait of Hormuz. Brent crude, the global benchmark, fell to a low of $72.24 a barrel on Thursday, slightly lower than the day before the US and Israel launched missile attacks on Tehran on 28 February. Prices have fallen...

Fears of long-lasting energy crunch ‘slinking away’ as vessel traffic doubled in 24 hours to highest level since late February

Business live – latest updates

Oil prices have fallen below levels seen before the Iran war started in late February as more oil tankers exited the strait of Hormuz.

Brent crude, the global benchmark, fell to a low of $72.24 a barrel on Thursday, slightly lower than the day before the US and Israel launched missile attacks on Tehran on 28 February. Prices have fallen more than 20% this month.

Hormuz (LOCATION) FebruaryBusiness (ORG) Iran (LOCATION) Brent (PERSON) US (LOCATION) Israel (LOCATION) Tehran (LOCATION)

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Oil price falls to pre-Iran war levels as more tankers exit strait of Hormuz

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