{"id":81463,"date":"2026-06-14T19:16:21","date_gmt":"2026-06-14T23:16:21","guid":{"rendered":"https:\/\/tvdelmarva.com\/wp\/oil-prices-drop-more-than-4-after-us-iran-peace-deal-reopens-key-waterway\/"},"modified":"2026-06-14T19:16:21","modified_gmt":"2026-06-14T23:16:21","slug":"oil-prices-drop-more-than-4-after-us-iran-peace-deal-reopens-key-waterway","status":"publish","type":"post","link":"https:\/\/tvdelmarva.com\/wp\/oil-prices-drop-more-than-4-after-us-iran-peace-deal-reopens-key-waterway\/","title":{"rendered":"Oil Prices Drop More Than 4% After US-Iran Peace Deal Reopens Key Waterway"},"content":{"rendered":"\n
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Oil prices took a significant hit on Monday following an announcement that U.S. President Donald Trump and Iran’s deputy foreign minister have agreed to a deal that would end the fighting and restore shipping through the Strait of Hormuz.<\/p>

Brent crude futures dropped $3.51, or 4.02%, settling at $83.82 per barrel as of 2203 GMT. Meanwhile, U.S. West Texas Intermediate crude fell to $80.95 a barrel, a decline of $3.93, or 4.63%.<\/p>

The agreement between Washington and Tehran signals a potential easing of tensions that had kept global energy markets on edge, with the reopening of the strategically vital Strait of Hormuz expected to allow oil shipments to flow more freely through the region.<\/p>","protected":false},"excerpt":{"rendered":"

Oil prices fell sharply on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister announced an agreement to end the conflict and reopen the Strait of Hormuz to shipping traffic. Brent crude dropped more than 4% while U.S. West Texas Intermediate also saw significant losses. The development marks a major shift in the ongoing tensions between the two nations.<\/p>\n","protected":false},"author":4,"featured_media":81462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[832],"tags":[],"class_list":["post-81463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781478980732.jpg?fit=450%2C301&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pbtNqq-lbV","jetpack-related-posts":[{"id":71440,"url":"https:\/\/tvdelmarva.com\/wp\/us-dollar-weakens-as-hormuz-strait-deal-hopes-drive-oil-prices-down\/","url_meta":{"origin":81463,"position":0},"title":"US Dollar Weakens as Hormuz Strait Deal Hopes Drive Oil Prices Down","author":"Admin","date":"May 24, 2026","format":false,"excerpt":"The US dollar declined in Asian markets Monday as speculation about a potential agreement to reopen the Strait of Hormuz pushed oil prices below $100 per barrel. Despite progress reports, the Trump administration cautioned that reaching a deal with Iran may take time.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1779672141607.jpg?fit=450%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":48774,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-rally-as-oil-prices-drop-following-us-iran-ceasefire-deal\/","url_meta":{"origin":81463,"position":1},"title":"Asian Markets Rally as Oil Prices Drop Following US-Iran Ceasefire Deal","author":"Admin","date":"April 7, 2026","format":false,"excerpt":"Stock markets across Asia experienced significant gains Wednesday morning following news of a two-week ceasefire agreement between the United States and Iran. The temporary truce includes reopening the crucial Strait of Hormuz, causing oil prices to plummet as global shipping concerns ease.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":48684,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-plunge-over-12-after-trump-announces-iran-ceasefire-deal\/","url_meta":{"origin":81463,"position":2},"title":"Oil Prices Plunge Over $12 After Trump Announces Iran Ceasefire Deal","author":"Admin","date":"April 7, 2026","format":false,"excerpt":"Crude oil prices dropped dramatically in early trading Wednesday following President Trump's announcement of a ceasefire agreement with Iran. The May delivery contract for West Texas Intermediate crude fell more than 10% to $100.90 per barrel.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775604082699.jpg?fit=450%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":72212,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-4-after-u-s-military-strikes-iran-disrupting-peace-talks\/","url_meta":{"origin":81463,"position":3},"title":"Oil Prices Surge 4% After U.S. Military Strikes Iran, Disrupting Peace Talks","author":"Admin","date":"May 26, 2026","format":false,"excerpt":"Crude oil prices jumped significantly Tuesday following U.S. military action in Iran that derailed weekend hopes for a peace agreement. 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