Brief by Shorts91 Newsdesk / 07:24am on 15 Jun 2026,Monday Business
Global oil prices dropped sharply on Monday after Pakistan announced a framework agreement between the US and Iran that could lead to the reopening of the Strait of Hormuz, a key global energy shipping route. Brent crude fell 4.3% to $83.55 a barrel, while US crude slipped 4.9% to $80.74. US President Donald Trump welcomed the development, posting "let the oil flow!", while Iran also confirmed that a deal had been finalised. However, analysts warned that uncertainty remains, as clearing the waterway and restoring normal oil shipments could take several weeks or even months.
