Crude Oil Prices Drop as Strait of Hormuz Reopens

Crude oil prices fell sharply following the reopening of the Strait of Hormuz, which increased global oil supplies. The dollar index rose to a 13-month high, adding downward pressure on crude prices. A preliminary US-Iran ceasefire signed by President Trump led to this development.

By Rich Asplund Thu, June 18, 2026 at 6:34 PM GMT+3 4 min read · Yahoo Finance · June 18, 2026, 15:34 UTC

Crude Oil Prices Drop as Strait of Hormuz Reopens

Tickers: $GS

Topics: crude oil geopolitical event oil supply Strait of Hormuz

Read the full article at Yahoo Finance

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