Brief by Shorts91 Newsdesk / 10:19am on 25 Jun 2026,Thursday International
Global oil prices have fallen to their lowest levels since before the Iran conflict, as shipping through the Strait of Hormuz gradually returns to normal. Brent crude briefly dropped below $72.50 a barrel after the US and Iran agreed to begin negotiations aimed at ending the conflict. More oil tankers and cargo ships are now passing through the key trade route following initial peace talks and partial easing of US sanctions on Iranian oil exports. Despite lower crude prices, fuel costs remain high in several countries, prompting calls for energy companies to pass on savings to consumers. (PC: BBC)
