Oil hits 3-month low as US, Iran reach peace deal to reopen Strait of Hormuz

🇸🇬 Channel NewsAsia (SG) — 2026-06-15

Oil prices declined to a three-month low as the United States and Iran reached a peace deal to reopen the Strait of Hormuz. The market response reflects optimism for eased tensions and improved oil flow through this critical passage.

World Politics Markets Deals Commodities Energy Shipping oil prices US-Iran deal Strait of Hormuz energy markets commodities peace agreement

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Oil hits 3-month low as US, Iran reach peace deal to reopen Strait of Hormuz

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