June 17, 2026 11:53 AM
Brent crude falls below $80 amid hopes of lasting US-Iran truce
Global crude oil prices declined by almost 1 per cent on Wednesday as investors and traders assessed the possibility that the Iran conflict would end and the Strait of Hormuz would reopen. International oil benchmark Brent crude fell 0.72 per cent to $78.39 per barrel, while US West Texas Intermediate (WTI) crude slipped nearly 1 per cent to $75.35. The selling pressure came after details of the US-Iran interim agreement to end the West Asia conflict emerged, with US President Donald Trump sta...