Crude Oil Prices Drop Amid Expected End of US-Iran War and Increased Supplies

Crude oil prices fell sharply as the anticipated end of hostilities between the U.S. and Iran is expected to boost global oil supplies by reopening the Strait of Hormuz. Goldman Sachs revised its Brent crude price forecast downward for Q4 2026, anticipating a quicker return to pre-war export levels in the Persian Gulf.

By Rich Asplund Tue, June 16, 2026 at 6:32 PM GMT+3 4 min read · Yahoo Finance · June 16, 2026, 15:32 UTC

Tickers: $GS

Topics: crude oil gasoline prices Strait of Hormuz US-Iran war end

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