Oil prices recover to pre-war levels as Strait of Hormuz shipping resumes after Iran deal

Oil Prices Fall Back to Pre-War Levels as Strait of Hormuz Shipping Resumes After Iran Deal

Google News TopOil prices have retreated to levels not seen since before the US-Iran conflict began, driven by rising Middle East supply and the resumption of shipping through the Strait of Hormuz following the interim peace deal. Analysts note the swift market response reflects trader confidence that the diplomatic framework will hold and supply disruptions will ease. Questions remain about the long-term trajectory of oil markets given the fragility of the agreement and Iran's ongoing negotiating conditions.