Global crude oil prices have crashed to a four month low and are now hovering around the pre-war levels. From around $120 per barrel to near $70 per barrel - the crash has been driven by the US-Iran ceasefire and reopening of the Strait of Hormuz.

Oil prices drop 30% in Q2 2026 after US-Iran peace deal reopens Strait of Hormuz. New all-time high by September 30 at 4.5% YES.

Oil prices fall as US-Iran talks ease supply disruption fears. New all-time high for crude oil by September 30 at 4.5% YES.