{"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<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"301\" src=\"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781478980732.jpg?resize=450%2C301&#038;ssl=1\" alt=\"\" class=\"wp-image-81462\" srcset=\"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781478980732.jpg?w=450&amp;ssl=1 450w, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781478980732.jpg?resize=300%2C201&amp;ssl=1 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/figure>\n\n\n<p>Oil prices took a significant hit on Monday following an announcement that U.S. President Donald Trump and Iran&#8217;s deputy foreign minister have agreed to a deal that would end the fighting and restore shipping through the Strait of Hormuz.<\/p><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><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":"<p>Oil prices fell sharply on Monday after U.S. President Donald Trump and Iran&#8217;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":88643,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-slip-as-world-watches-potential-u-s-iran-talks-in-doha\/","url_meta":{"origin":81463,"position":0},"title":"Oil Prices Slip as World Watches Potential U.S.-Iran Talks in Doha","author":"Admin","date":"June 29, 2026","format":false,"excerpt":"Crude oil prices declined Tuesday as investors watched for the outcome of possible U.S.-Iran negotiations in Doha, Qatar. The talks come amid ongoing tensions after weekend missile exchanges tested a fragile ceasefire in a four-month conflict. Uncertainty over whether the two sides will actually meet has kept global energy markets\u2026","rel":"","context":"In &quot;World News&quot;","block_context":{"text":"World News","link":"https:\/\/tvdelmarva.com\/wp\/category\/world-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1782785774556.jpg?fit=450%2C285&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":71440,"url":"https:\/\/tvdelmarva.com\/wp\/us-dollar-weakens-as-hormuz-strait-deal-hopes-drive-oil-prices-down\/","url_meta":{"origin":81463,"position":1},"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 &quot;Business&quot;","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":92381,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-after-us-cancels-iran-oil-sales-license-tanker-attacks-rattle-markets\/","url_meta":{"origin":81463,"position":2},"title":"Oil Prices Surge After US Cancels Iran Oil Sales License, Tanker Attacks Rattle Markets","author":"Admin","date":"July 7, 2026","format":false,"excerpt":"Oil prices jumped more than 3% on Tuesday after the United States revoked the license allowing sales of Iranian crude oil. The spike was fueled further by reports of attacks on multiple tankers near the Strait of Hormuz, a critical global shipping lane. Analysts warn that continued tensions could keep\u2026","rel":"","context":"In &quot;Business&quot;","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\/07\/news-1783455529291.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":3},"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 &quot;Business&quot;","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":83562,"url":"https:\/\/tvdelmarva.com\/wp\/us-gas-prices-dip-below-4-for-first-time-since-march\/","url_meta":{"origin":81463,"position":4},"title":"US Gas Prices Dip Below $4 for First Time Since March","author":"Admin","date":"June 18, 2026","format":false,"excerpt":"Average gas prices in the United States have dropped just below $4 per gallon for the first time since March, following a ceasefire agreement between the U.S. and Iran. Despite the dip, prices remain roughly 25% higher than they were a year ago. Experts warn it could take weeks or\u2026","rel":"","context":"In &quot;Business&quot;","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\/06\/news-1781785936364.jpg?fit=1000%2C562&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781785936364.jpg?fit=1000%2C562&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781785936364.jpg?fit=1000%2C562&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1781785936364.jpg?fit=1000%2C562&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":5},"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 &quot;Business&quot;","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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts\/81463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/comments?post=81463"}],"version-history":[{"count":0,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts\/81463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/media\/81462"}],"wp:attachment":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/media?parent=81463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/categories?post=81463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/tags?post=81463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}