business

Oil sinks below $80 a barrel as traders bet Strait of Hormuz flows will return

Financial Times · Jun 16, 2026, 1:57 PM · Also reported by 4 other sources

Brent crude has tumbled to three-month low following agreement to extend US-Iran ceasefire

Read full story on Financial Times → More top stories

Also covered by

Fortune The Strait of Hormuz is finally reopening, but energy flows may not get back to normal until next year Bloomberg Markets Strait of Hormuz to Reopen by Friday, Trump Says MarketWatch It could take years for oil prices to return to $67 a barrel. Here’s why. BBC News Three reasons ships are not going through the Strait of Hormuz yet

Aggregated and edited by the Scoop newsroom. We surface news from Financial Times alongside other reporting so you can compare coverage in one place. Editorial policy · Corrections · About Scoop

Oil sinks below $80 a barrel as traders bet Strait of Hormuz flows will return

Also covered by

More in business