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Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough Jillian Ambrose · Jonathan Barrett · Lauren Almeida and Gaya Gupta
Donald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crudeAnalysis: Oil and gas unlikely to return to prewar prices for months even if Hormuz reopensBusiness live – latest updatesMiddle East crisis: live updatesGlobal oil prices have tumbled to a three-month low and stock markets closed at a record high amid fresh hopes that a US-Iran peace deal could end the greatest energy supply crisis in the history of the market.The price of Brent crude dropped about 4
15 June 2026 at 21:15

Oil prices hit three-month low and markets reach record high amid Iran deal breakthrough

By: Jillian Ambrose · Jonathan Barrett · Lauren Almeida and Gaya Gupta

15 June 2026 at 21:15

Donald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crude

Global oil prices have tumbled to a three-month low and stock markets closed at a record high amid fresh hopes that a US-Iran peace deal could end the greatest energy supply crisis in the history of the market.

The price of Brent crude dropped about 4% to about $83 (£62) on Monday amid optimism that the strait of Hormuz could reopen shortly and bring a return of Gulf oil exports to the market. Wholesale gas prices fell 6% in Europe.