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Advertisement Oil Prices Fall Below $80 After US-Iran Deal Global oil prices fell sharply on Tuesday, hitting a three-month low after optimism grew over the reopening of the Strait of Hormuz following a peace deal between the United States and Iran. Benchmark Brent crude dropped 3.8% to $79.99 per barrel, slipping below the $80 mark

When the US and Israel launched strikes on Iran on Feb. 28, Brent crude was trading around $72 a barrel. Within weeks it was approaching $120. Two months on, with the Strait of Hormuz still functionally closed and negotiations going nowhere fast, prices have swung wildly on every headline — and traders are running out

By Irina Slav – May 06, 2026, 3:01 AM CDT Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of Hormuz just a couple of days after it was announced. The news prompted expectations that a

By Tsvetana Paraskova – Dec 08, 2025, 7:00 PM CST Most investment banks and the EIA forecast that average oil prices will fall below $60 per barrel in 2026 due to an emerging and persistent market oversupply. The oversupply is primarily caused by weak global demand growth combined with rising supply from both OPEC+ and