Global oil prices hit a two-month low on June 16, with Brent crude briefly dropping below $80 a barrel and WTI crude falling 4% to $77.43, driven by enthusiasm over a U.S.-Iran memorandum of understanding (MoU) to reopen the Strait of Hormuz. Severe Infrastructure Damage Hinders Recovery Oil price declines continued Tuesday, with Brent crude []
US-Iran MoU Pushes Brent Below $80 as Traders Price In Strait of Hormuz Reopening
Bitcoin.com - 16 Jun 2026 16:32
Global oil prices hit a two-month low on June 16, with Brent crude briefly dropping below $80 a barrel and WTI crude falling 4% to $77.43, driven by enthusiasm over a U.S.-Iran memorandum of understanding (MoU) to reopen the Strait of Hormuz. Severe Infrastructure Damage Hinders Recovery Oil price declines continued Tuesday, with Brent crude []
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