Oil price falls to levels not seen since before Iran war
Global oil prices have dropped to pre-conflict levels following a memorandum of understanding between the US and Iran. While shipping through the Strait of Hormuz is gradually resuming, experts warn that regional tensions remain a risk to market stability.
Why it matters
The stabilization of oil prices is critical for global inflation control and energy security, particularly following the disruption of a major maritime trade route.
Image source, The Dallas Morning News via Getty Images By Osmond Chia Business reporter Published 25 June 2026, 08:11 BST Updated 3 hours ago The price of oil has fallen to levels not seen since before the Iran war as traffic through the key Strait of Hormuz shipping route gradually resumes.
The article reports on market data and diplomatic developments using neutral, factual language without taking a political stance.
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