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US Crude Grades Shed Iran War Premium as Energy Crisis Eases

US Crude Grades Shed Iran War Premium as Energy Crisis Eases
Bloomberg Markets Wednesday 01 July 2026, 17:59 UTC By Nathan Risser 1 min read
Key Points

US Crude Grades Shed Iran War Premium as Energy Crisis Eases Key US oil grades have slumped to trade at a discount again as a gush of crude flows through the Strait of Hormuz and a recent spike in demand for American exports fades. US sour crude benchmark Mars fell to the lowest level since early 2023 this week while oil prices in Houston, the Gulf Coast trading hub, weakened in recent days to levels not seen since the Covid-19 pandemic.

US Crude Grades Shed Iran War Premium as Energy Crisis Eases Key US oil grades have slumped to trade at a discount again as a gush of crude flows through the Strait of Hormuz and a recent spike in demand for American exports fades. US sour crude benchmark Mars fell to the lowest level since early 2023 this week while oil prices in Houston, the Gulf Coast trading hub, weakened in recent days to levels not seen since the Covid-19 pandemic.
US (LOCATION) Shed Iran War Premium as Energy Crisis (ORG) Shed Iran War Premium as Energy Crisis Eases Key US (ORG) the Strait of Hormuz (LOCATION) American (ORG) Mars (LOCATION) Houston (LOCATION) Gulf Coast (LOCATION)
Originally published by Bloomberg Markets Read original →

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