Oil falls to pre-Iran war levels as ships exit Hormuz strait
By Frank Prenesti
Date: Thursday 25 Jun 2026
(Sharecast News) - Oil prices fell to pre-Iran war levels on Thursday as the pace of ships exiting the Strait of Hormuz accelerated, easing concerns about short-term supply.
Brent crude futures for August delivery fell 1.12% to $72.66 a barrel as of 0649 GMT, while US benchmark West Texas Intermediate was down 1% to $69.62 - both below levels on February 27 when the US and Israel began their war of choice on Iran and Lebanon.
September Brent was priced at $73.05.
At least 20 oil tankers stranded in the Persian Gulf with 35 million barrels have exited the Strait of Hormuz since the US and Iran agreed to open the vital sea lane, CNBC reported, citing data provided by Kpler, a firm that tracks global trade flows.
In total, confirmed oil shipments through Hormuz have risen to around 4.8 million barrels per day since the deal, according to Kpler. Oil flows in June are the highest since the US and Israel attacked Iran on February 28. But exports remain well below pre-war levels when 15 million bpd exited the strait.
Iranian oil tankers carrying about 21 million barrels have exited Hormuz in June, the Kpler analysts said. The US Navy lifted its blockade of Iran on June 18 and the Treasury Department this week waived sanctions on the country's oil sales through August.
Reporting by Frank Prenesti for Sharecast.com
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