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U.S. oil prices fall back to preconflict levels as physical flow through the Strait of Hormuz improves

Economy MarketWatch By Myra P. Saefong 24 Jun 2026 16:22 1 min read
U.S. oil prices fall back to preconflict levels as physical flow through the Strait of Hormuz improves

U.S. and global benchmark oil prices have dropped back to levels they haven’t seen since before the U.S.-Israeli war with Iran started at the end of February, but it’s not because risks associated with the conflict have suddenly disappeared.

U.S. and global benchmark oil prices have dropped back to levels they haven’t seen since before the U.S.-Israeli war with Iran started at the end of February, but it’s not because risks associated with the conflict have suddenly disappeared.

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