June 17, 2026
Oil prices fell about 5% for a second day in a row to a three-month low on Tuesday as details emerged of an interim deal to end the war in the Middle East and reopen the Strait of Hormuz, including an agreement to allow Iran to sell oil.
Brent crude futures fell $4.21, or 5.1%, to settle at $78.96 a barrel, while US West Texas Intermediate (WTI) crude fell $4.70, or 5.8%, to settle at $76.05.
Those were the lowest closes for Brent since March 2 and for WTI since March 4.
The US-Iran war started on February 28. On Feb 27, Brent closed at $72.48 a barrel and WTI closed at $67.02.
