{"id":2127,"date":"2026-06-16T14:39:12","date_gmt":"2026-06-16T14:39:12","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2127"},"modified":"2026-06-16T14:39:12","modified_gmt":"2026-06-16T14:39:12","slug":"oil-drops-about-4-to-three-month-low-as-markets-weigh-us-iran-deal","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2127","title":{"rendered":"Oil drops about 4% to three-month low as markets weigh US-Iran deal"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><li>Companies<\/li><\/ul><\/div><div><\/div><\/div><div>June 16 (Reuters) &#8211; Oil prices fell about 4% on Tuesday to \u200bfresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker \u200cphysical demand and scant details on a preliminary deal to end the Iran war.<\/div><div>Brent crude futures were down $3.20, or 3.85%, at $79.97 a barrel at 1253 GMT. They earlier touched $79.61, the lowest since March 3, and the first time they have fallen below $80 since that day.<\/div><div>U.S. West Texas Intermediate was down $3.52, or 4.36%, at $77.23 a \u200bbarrel. WTI&#8217;s intra-day nadir of $76.88 was the lowest since March 10.<\/div><div>Before the war started on February 28, Brent and WTI \u200bfutures were trading around $65-70 per barrel.<\/div><div>Oil prices sank nearly 5% on Monday after U.S. President Donald Trump announced \u2060an interim deal to end the U.S.-Israeli war with Iran, though full details have not been released.<\/div><div>Iranian Foreign Minister Abbas Araqchi said on Tuesday \u200bthat Iran and the U.S. would start a new round of talks in Switzerland on Friday to reach a final agreement.<\/div><div>&#8220;Near-term downside risks \u200bremain as the market prices a faster reopening of the Strait and a return of stranded barrels,&#8221; Saxo Bank analyst Ole Hansen said.<\/div><div>However, depleted inventories, seasonal demand, strategic stock rebuilding and lingering geopolitical uncertainty suggest the path back to pre-war prices may be far less straightforward than current market optimism implies, Hansen said.<\/div><h2>INVESTORS EYE \u200bSTRAIT REOPENING<\/h2><div>The conflict led to the closure of the Strait of Hormuz, which typically carries about one-fifth of global oil supplies.<\/div><div>So far, few \u200btankers have crossed the strait since the framework agreement was announced, though ships have been quietly moving barrels along Oman&#8217;s coast for weeks, sailing &#8220;dark&#8221; with U.S. navy \u200csupport. \u2060Shippers are awaiting reassurance on safety to cross the strait, including the clearing of mines.<\/div><div>The U.S. military has overseen scores of secretive ship-to-ship oil transfers to keep Gulf energy exports flowing, using aerial and water drones as well as helicopters in an operation to guide convoys to awaiting tankers.<\/div><div>Early indications suggest the U.S.-Iran deal would reopen the blockaded strait and extend a ceasefire for 60 days, buying time for negotiations on issues \u200bincluding Iran&#8217;s nuclear programme.<\/div><div>Some analysts expect \u200bflows through the strait to \u2060resume soon, adding to downward pressure from already soft physical markets.<\/div><div>Goldman Sachs lowered its fourth-quarter Brent forecast to $80 a barrel from $90 and cut its 2027 average estimate to $75 from $80, saying it now assumes Gulf exports return \u200bto pre-war levels by the end of July rather than late August.<\/div><div>With details still unclear and a \u200bpermanent truce yet \u2060to be secured, and potential for a long recovery period to oil flows after the strait reopens, other analysts say volatility risks remain.<\/div><div>&#8220;Even in the best-case scenario \u2013 in which the Strait of Hormuz is sustainably reopened \u2013 it is likely to take quite some time before shipping traffic, and thus \u2060energy exports \u200bfrom the Gulf region, have normalised again,&#8221; Commerzbank analysts said in a note.<\/div><div>Commerzbank forecasts \u200ba Brent price of $85 per barrel at the end of this year, and a return to pre-war levels of around $65 per barrel next year.<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Stephanie Kelly\" class=\"wp-image-9\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/05\/a8d647782541686b4c9068dd2dfa6f30.avif\"\/><\/figure>\n<\/noscript><\/div><div>Stephanie Kelly<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Anushree Ashish Mukherjee\" class=\"wp-image-2125\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/f06c83a03838c0d5f072f19e4047bd7e.avif\"\/><\/figure>\n<\/noscript><\/div><div>Anushree Ashish Mukherjee<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Robert Harvey\" class=\"wp-image-2126\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/3058ae73bcec2730ce61904c99e36399.avif\"\/><\/figure>\n<\/noscript><\/div><div>Robert Harvey<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2123\">Dow touches record high as oil slides further<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2122\">Exclusive: Binance set to lose EU licence bid, permission to offer services in the bloc, sources say<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2119\">SpaceX set to vault past Amazon in market value as shares extend IPO surge<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Oil prices fell about 4% on Tuesday to \u200bfresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker \u200cphysical demand and scant details on a preliminary deal to end the Iran war.<\/p>\n","protected":false},"author":1,"featured_media":2124,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4,29],"class_list":["post-2127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asia-pacific","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reliablemovingcrews.com\/?p=2127\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews\" \/>\n<meta property=\"og:description\" content=\"Oil prices fell about 4% on Tuesday to \u200bfresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker \u200cphysical demand and scant details on a preliminary deal to end the Iran war.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/reliablemovingcrews.com\/?p=2127\" \/>\n<meta property=\"og:site_name\" content=\"Reliable Moving Crews\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-16T14:39:12+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\"},\"headline\":\"Oil drops about 4% to three-month low as markets weigh US-Iran deal\",\"datePublished\":\"2026-06-16T14:39:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127\"},\"wordCount\":596,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/fbed23c0b06d3169883b4b7e37049508.avif\",\"keywords\":[\"Asia Pacific\",\"Transport Fuels\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127\",\"name\":\"Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/fbed23c0b06d3169883b4b7e37049508.avif\",\"datePublished\":\"2026-06-16T14:39:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#primaryimage\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/fbed23c0b06d3169883b4b7e37049508.avif\",\"contentUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/fbed23c0b06d3169883b4b7e37049508.avif\",\"width\":1920,\"height\":1005},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=2127#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/reliablemovingcrews.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Oil drops about 4% to three-month low as markets weigh US-Iran deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#website\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/\",\"name\":\"Reliable Moving Crews\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/reliablemovingcrews.com\"],\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/reliablemovingcrews.com\/?p=2127","og_locale":"en_US","og_type":"article","og_title":"Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews","og_description":"Oil prices fell about 4% on Tuesday to \u200bfresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker \u200cphysical demand and scant details on a preliminary deal to end the Iran war.","og_url":"https:\/\/reliablemovingcrews.com\/?p=2127","og_site_name":"Reliable Moving Crews","article_published_time":"2026-06-16T14:39:12+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/reliablemovingcrews.com\/?p=2127#article","isPartOf":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127"},"author":{"name":"admin","@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24"},"headline":"Oil drops about 4% to three-month low as markets weigh US-Iran deal","datePublished":"2026-06-16T14:39:12+00:00","mainEntityOfPage":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127"},"wordCount":596,"commentCount":0,"image":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127#primaryimage"},"thumbnailUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/fbed23c0b06d3169883b4b7e37049508.avif","keywords":["Asia Pacific","Transport Fuels"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/reliablemovingcrews.com\/?p=2127#respond"]}]},{"@type":"WebPage","@id":"https:\/\/reliablemovingcrews.com\/?p=2127","url":"https:\/\/reliablemovingcrews.com\/?p=2127","name":"Oil drops about 4% to three-month low as markets weigh US-Iran deal - Reliable Moving Crews","isPartOf":{"@id":"https:\/\/reliablemovingcrews.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127#primaryimage"},"image":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127#primaryimage"},"thumbnailUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/fbed23c0b06d3169883b4b7e37049508.avif","datePublished":"2026-06-16T14:39:12+00:00","author":{"@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24"},"breadcrumb":{"@id":"https:\/\/reliablemovingcrews.com\/?p=2127#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/reliablemovingcrews.com\/?p=2127"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/reliablemovingcrews.com\/?p=2127#primaryimage","url":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/fbed23c0b06d3169883b4b7e37049508.avif","contentUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/fbed23c0b06d3169883b4b7e37049508.avif","width":1920,"height":1005},{"@type":"BreadcrumbList","@id":"https:\/\/reliablemovingcrews.com\/?p=2127#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/reliablemovingcrews.com\/"},{"@type":"ListItem","position":2,"name":"Oil drops about 4% to three-month low as markets weigh US-Iran deal"}]},{"@type":"WebSite","@id":"https:\/\/reliablemovingcrews.com\/#website","url":"https:\/\/reliablemovingcrews.com\/","name":"Reliable Moving Crews","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/reliablemovingcrews.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/reliablemovingcrews.com"],"url":"https:\/\/reliablemovingcrews.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts\/2127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2127"}],"version-history":[{"count":0,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts\/2127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/media\/2124"}],"wp:attachment":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}