# Brent slides toward $72 and WTI below $70 as Hormuz traffic recovers
> Crude extends its retreat from wartime highs as tankers crowd back through the strait and traders bet on a durable US-Iran peace

**Meta:** type: story · date: 2026-06-25 · heads: L'argent de qui, Comment les guerres finissent vraiment · 2 takes · 2 lenses · 2 regions

## Summary

[Oil](/fr/entity/oil) extended its slide on June 25, with Brent near $72.79 a barrel and WTI below $70, as tanker traffic through the [Strait of Hormuz](/fr/entity/strait-of-hormuz) climbed to its highest level since before the [conflict escalated](/fr/n/iran-us-ceasefire-mou). Traders are pricing in a durable [United States](/fr/entity/united-states)-[Iran](/fr/entity/iran) settlement and the unwinding of the war-risk premium that drove Brent toward $120 at the war's opening. Crude is now roughly 40% below its wartime peak. The drop persisted even as Iran's Revolutionary Guard rejected Oman's new Hormuz corridor, suggesting the market is discounting the rhetoric and watching the vessel counts instead.

## Why it matters

Cheaper crude eases the inflation and fertiliser-price shock the war triggered, and relieves importers across Asia. It also squeezes producer budgets, pressures US shale breakevens, and weakens [Russia](/fr/entity/russia)'s oil revenue as its own [fuel crisis](/fr/n/russia-diesel-export-ban-2026) deepens. The floor depends on Hormuz staying open in practice.

## What to watch

- Daily verified Hormuz crossings versus the IRGC's coordination demands.
- Whether OPEC+ adjusts output as prices fall back toward pre-war levels.
- US strategic reserve refill timing at sub-$70 WTI.

## Regional takes (batched by bias / lens)

### Indian daily, markets desk
- **The Sunday Guardian** (India, en) — Reports Brent at $72.79 (down 1.48%) and WTI at $69.15 (down 1.69%), attributing the slide to optimism over a longer-term US-Iran agreement and surging Strait of Hormuz shipping traffic at its highest since before the conflict escalated.
  > "Brent fell near $72.79 and WTI slipped to $69.15 as Strait of Hormuz traffic jumped to its highest since before the war and US-Iran peace hopes grew."
  Source: https://sundayguardianlive.com/business/brent-crude-oil-price-today-june-25-brent-falls-near-72-wti-slips-below-70-as-strait-of-hormuz-traffic-jumps-and-us-iran-peace-hopes-grow-213762/

### US business magazine
- **Fortune** (United States, en) — Logs Brent near $75.57 the prior session, down $2.47, as the market continued unwinding the war-risk premium with no fresh supply shock.
  > "Crude traded around $75.57 a barrel, down $2.47 from the previous day, as the wartime premium kept unwinding."
  Source: https://fortune.com/article/price-of-oil-06-24-2026/

## Across the graph
- Related: [[brent-crude-post-ceasefire-floor-2026]], [[oil-price-iran-ceasefire]], [[hormuz-oil-supply-shock]], [[iran-us-ceasefire-mou]]
- Entities: Oil, Strait of Hormuz, Iran, United States

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