The Globe and Mail
🏢 Globe and Mail Inc. (Woodbridge)
Jun 16, 2026
· 4 min read
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Oil drops to fresh three-month low as markets weigh U.S.-Iran peace deal
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Article Excerpt
Oil drops to fresh three-month low as markets weigh U.S.-Iran peace deal
REUTERS
PUBLISHED 52 MINUTES AGO
UPDATED 1 MINUTE AGO
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weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker physical demand and scant details on a preliminary deal to end the Iran war.
Brent crude futures were down US$1.70, or 2 per cent, at US$81.47 a barrel, by 5:34 a.m. ET. The benchmark fell to US$81.00 per barrel, the lowest since March 4.
U.S. West Texas Intermediate was down US$1.89, or 2.3 per cent, at US$78.86 a barrel, after dropping to…
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Jun 16, 2026