Brent settled down $3.34 (-4.3%) at $73.74/bbl and U.S. crude fell $2.87 (-3.9%) to $70.34/bbl, returning to levels seen before the US‑Israel‑Iran conflict erupted as more previously idled tankers left the Strait of Hormuz and supply eased. ING conce

2026-06-25

Brent settled down $3.34 (-4.3%) at $73.74/bbl and U.S. crude fell $2.87 (-3.9%) to $70.34/bbl, returning to levels seen before the US‑Israel‑Iran conflict erupted as more previously idled tankers left the Strait of Hormuz and supply eased. ING concerns said positive signals from the Persian Gulf are boosting optimism about restored flows through the Strait of Hormuz; vessel transits have risen but remain well below pre‑war levels.