Oil prices down as Lebanon ceasefire fuels hope for Hormuz reopening
Source: Baird MaritimePublished: June 4, 20260 views
Oil prices fell by about three percent as a ceasefire agreement between Israel and Lebanon raised hopes for reopening the Strait of Hormuz. The ceasefire could facilitate peace talks between the US and Iran, which are currently conditional on ending hostilities. Brent crude futures dropped to $94.61 a barrel, while US West Texas Intermediate crude fell to $92.31.
oil pricesceasefireStrait of Hormuz