Mon, 15 Jun 2026 08:21:33 GMT
Crude Plunges as U.S.-Iran Ceasefire Reopens Hormuz, But Structural Supply Risks Remain
Global energy markets experienced a sharp downside correction early Monday as the geopolitical risk premium evaporated following news of a preliminary U.S.-Iran agreement to reopen the Strait of Hormuz. The deal, which establishes a 60-day ceasefire in exchange for lifting U.S. sanctions on Iranian crude, triggered an immediate selloff that pushed WTI down over 5% to the $80 level and