Live Update 
From the Liveblog of
Tuesday, June 16, 2026
From the Liveblog of
Tuesday, June 16, 2026
Brent oil drops below $80 a barrel for first time since early March on US-Iran deal
Add ToI as a Preferred Source on GoogleOil prices have fallen to a three-month low on optimism over the expected reopening of the Strait of Hormuz after a deal between the United States and Iran.
Brent Crude, the international benchmark, drops 3.8 percent to $79.99 a barrel, dipping under $80 for the first time since early March.
The main US oil contract, West Texas Intermediate, slides 3.9 percent to $77.61 a barrel.
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