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Iran-U.S. Updates: Oil prices return to near pre-war levels as Strait of Hormuz shipping ramps up

Crude oil prices have dropped to levels seen before the Iran war began. This trend follows a recovery in tanker traffic through the Strait of Hormuz. Market analysts warn that Iranian leverage in the region could still impact shipping costs.

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What changed

Oil prices have retreated to pre-war levels as shipping traffic in the Strait of Hormuz increases.

Live updates

  1. Oil Prices Return to Pre-War Levels as Hormuz Shipping Recovers

    Crude oil prices have dropped to levels seen before the Iran war began. This trend follows a recovery in tanker traffic through the Strait of Hormuz. Market analysts warn that Iranian leverage in the region could still impact shipping costs.

    What's confirmed:

    • Crude oil prices have returned to levels seen before the Iran war started.
    • Tanker traffic through the Strait of Hormuz is recovering.
    • Brent crude reached its lowest price since February 27.

    Still unconfirmed:

    • The Qatar Prime Minister visited Oman to facilitate talks between Iran, Iraq, and Gulf nations regarding the Strait of Hormuz.
    confidence 90%