General · 16 June 2026

Oil falls below $80 after US-Iran deal

Brent crude, the global oil benchmark, has dropped below $80 a barrel for the first time since early March. This comes after a US-Iran deal to reopen the Strait of Hormuz, with Iranian state media reporting tankers are now sailing. The agreement also includes 60 days of nuclear talks, though experts warn normal shipping will take time.

By BriefTea Editorial · 16 June 2026 at 16:20

Reported by Guardian · How we write briefs

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