Energy & Petrochemicals #oil#prices
Oil Prices Still Above Pre-War Levels Despite US-Iran Truce Hopes
Oil prices remained above pre-war levels on Tuesday, trading around $80 per barrel, after the US and Iran signed a memorandum of understanding to end the conflict. WTI crude stood at $81.12 per barrel and Brent at $83.43 per barrel, as of Tuesday morning. The deal could reopen the Strait of Hormuz, which had shut in about 14 million barrels per day of output, but full details and a lasting truce have yet to be established.
Jun 16, 2026 1 source