EnergyReader · 2026-06-19 03:54

Crude bears price a fast Hormuz restart the tankers haven't delivered

By EnergyReader Newsroom · June 19, 2026

Brent's August contract on ICE was trading near $79.15 a barrel, down about 0.88% from its previous close, while NYMEX WTI for July fell 0.74% to $75.31, after Iran and the United States signed a memorandum of understanding to end their Gulf war and reopen Hormuz. Prices are down about 9% on a weekly basis as the deal promised a return of regional supply.

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