Business
Oil Prices and Strait of Hormuz
A tentative deal between the U.S. and Iran to extend their ceasefire by 60 days is expected to take years for oil prices to return to $67 a barrel due to global crude supplies and shipping costs.
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MarketWatch
The U.S. and Iran have reached a tentative deal to extend their ceasefire by 60 days and reopen the Strait of Hormuz, but it will take an excess of global crude supplies and lower shipping costs for the market to see any semblance of normality.
2026-06-15 19:29 UTC