ECONOMY — June 24, 2026
Oil Prices Extend Decline as Brent Nears Four-Month Low
The drop comes after a preliminary U.S.-Iran agreement on maritime security was reached following negotiations in Switzerland. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the Strait of Hormuz would not return to its pre-war status.
The Ehtebar Desk — originates with Khaama Press — 2 min read
Global oil prices continued to fall on Wednesday. Brent crude dropped 0.5 percent to 76.71 dollars per barrel in early trading. This places it near a four-month low.
Oil prices reached their lowest level since early March on Tuesday following a nearly 1 percent drop.
Concerns over disruptions in the Strait of Hormuz are easing. This is contributing to the decline in oil prices along with expectations of stable supply.
A preliminary U.S.-Iran agreement was reached after negotiations in Switzerland. The agreement includes commitments on maritime security and shipping through regional waterways.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that the Strait of Hormuz would not return to its pre-war status.
Read the original reporting at Khaama Press →
Reliability assessment
Single source provides concrete, checkable details including specific price figures, dates, and an on-record statement from named Iranian Parliament Speaker Mohammad Bagher Ghalibaf.
The source language reads straight.
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Khaama Press
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Economy — Oil Prices, Brent Crude, Strait of Hormuz, Iran, Energy Markets
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