Global oil prices fall to pre-Iran war levels as demand weakens and Strait of Hormuz reopens
Global oil prices fall to pre-Iran war levels as demand weakens and Strait of Hormuz reopens Brent crude dips near $72.48 per barrel, erasing the entire war premium built up since February's US-Israeli strikes on Iran Share Add us on Google by Editorial Team Jun. Four months of war premium, wiped out in a matter of weeks. The decline, which amounts to a drop of over 20% from the conflict’s peak pricing, wasn’t driven by a flood of new barrels hitting the market.
- ▪Global oil prices fall to pre-Iran war levels as demand weakens and Strait of Hormuz reopens Brent crude dips near $72.48 per barrel, erasing the entire war premium built up since February's US-Israeli strikes on Iran Share Add us on Google
- ▪Four months of war premium, wiped out in a matter of weeks.
- ▪The decline, which amounts to a drop of over 20% from the conflict’s peak pricing, wasn’t driven by a flood of new barrels hitting the market.
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Global oil prices fall to pre-Iran war levels as demand weakens and Strait of Hormuz reopens Brent crude dips near $72.48 per barrel, erasing the entire war premium built up since February's US-Israeli strikes on Iran Share Add us on Google by Editorial Team Jun. 29, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); Brent crude briefly traded below $72.48 per barrel in late June, a price point the world hasn’t seen since February 27,…
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