The United States and Iran announced on Sunday that they had struck a preliminary agreement to end their war , raising hopes for an end to the energy crisis that has gripped countries worldwide since the conflict began.
"Ships of the World, start your engines. Let the oil flow!" President Donald Trump wrote in a social media post hailing the US-Iran agreement.
The deal would reopen the Strait of Hormuz once both sides formally sign the accord on Friday.
The narrow waterway is a crucial route for global energy trade, handling about a fifth of the world's oil and natural gas in normal times.
Tehran has effectively shut shipping through the strait since the onset of the conflict on February 28, 2026, causing one of the largest global oil-supply disruptions in history.
At the time, many anticipated prices to jump from around $72 (€62) a barrel on February 27 to as high as $150 to $200.
In the end, the price increase was more moderate and a barrel of oil peaked at around $120 soon after the conflict started before going back down.
After the US-Iran peace deal was announced over the weekend, the price dropped further.
Demand destruction kept prices in check
Increased supply from the US and other non-Gulf sources, decreased Chinese demand, the coordinated release of strategic reserves and market optimism that the conflict would end soon helped keep the price rise in check.
The US, for instance, increased crude oil exports in April and May to more than five million barrels a day, up from an average of about four million barrels a day in recent years, the Wall Street Journal reported.
China, meanwhile, has significantly slashed its crude oil imports in recent weeks, relying instead on existing commercial inventories and strategic stockpiles.
Fereidun Fesharaki, chairman emeritus of energy consultancy FGE NexantECA, told Bloomberg recently that the oil market had responded to the energy shock by demand destruction.
China, the world's largest crude importer, has cut imports by four million barrels per day, he said.
Emma Li, lead China oil market analyst at Vortexa, said China began to tap its massive domestic inventories in May to offset the Middle East supply disruptions, instead of buying crude on the spot market.
This retreat from spot buying "significantly eased pressure on outright crude prices," she wrote in a research note at the end of May.
Global oil inventories are falling fast
China, however, is not alone, as countries around the world have increasingly tapped their domestic inventories to make up for the millions of barrels of oil stranded in the Persian Gulf.
Oil stocks fell at an average rate of 5.3 million barrels per day between March and May, according to the US Energy Information Administration.
Industry experts have warned though that the stocks were reaching critical levels.
"Buffers are becoming thinner," warned Jorge Leon, an analyst at Rystad Energy and a former OPEC official.
"Inventory draws, and partial bypass options can provide some short-term relief, but they cannot fully offset a prolonged disruption to Strait of Hormuz flows," he told DW last week.
"In that case, it is not unthinkable that oil prices could rapidly climb to $150 per barrel this summer," Leon added.
Returning to normal will take months
With Washington and Tehran now striking a deal and agreeing to quickly reopen the strait, hopes abound about the supply crunch easing soon.
But even if this deal comes to pass, experts caution it will likely take months before the energy markets return to pre-conflict normal, pointing to the need for security measures such as clearing sea mines .
Shipping risks on the rise due to wars and trade crises
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Restoring traffic through the strait — with hundreds or even thousands of ships still stranded — and resolving issues such as insurance will also take time.
"Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the strait will remain," Neil Shearing, chief economist at Capital Economics, wrote in a research note.
"Our current working assumption is that ~80% of energy flows will resume by the end of Q3," he added.
Once the strait reopens, ensuring the free flow of traffic "might take eight weeks, perhaps longer, depending on how long each step takes," Neil Crosby, head of research at market intelligence firm Sparta Commodities, told DW earlier this month.
Restoring supplies will be a challenge
Besides causing massive shipping problems, the conflict also resulted in damage to energy facilities across the Persian Gulf.
The damaged oil fields, pipelines and other infrastructure will need repairs before they can contribute to boosting supply. Bringing the sites back online requires thorou…
Read the full article at Deutsche Welle (English) →📄Source document: Reuters→13 reports
Scroll.inIndependentCenter6 days agoGlobal stock markets rose and oil prices fell following a reported US-Iran deal to end the conflict in West Asia and reopen the Strait of Hormuz. Indian stock indices like the Sensex and Nifty saw gains of nearly 1%. Wholesale inflation in India increased to 9.6% in May due to rising global fuel prices linked to the regional conflict. Fuel and power inflation surged to 30.3%, while crude petroleum and natural gas inflation hit 61.5%. The new wholesale price index series, based on 2022-23, includes 957 commodities.
Bias read (Center): The article presents factual economic data and market movements without overtly favoring any political stance. It reports on international developments and their impact on global markets and inflation without using biased language or selective sourcing.
Official sources cited
- government Wholesale Price Inflation Data
Deutsche Welle (English)State / PublicCenter6 days agoThe United States and Iran have reached a preliminary agreement to end their conflict, which has been affecting global oil supplies. The deal aims to reopen the Strait of Hormuz, a critical passage for global energy trade. Oil prices initially rose following the conflict but later stabilized due to factors such as increased supply from the US and other non-Gulf sources, reduced Chinese demand, and the release of strategic oil reserves.
Bias read (Center): The article presents factual information about the US-Iran agreement and its impact on oil prices without overtly favoring either side. It includes quotes from President Trump and mentions the geopolitical implications, but does not exhibit clear bias in language, sourcing, or framing. The content力求
SKAIIndependentCenter6 days agoEuropean stock markets experienced significant gains following the announcement of a preliminary agreement between the US and Iran for peace in the Middle East. The pan-European STOXX 600 index opened at a historic high, rising by 1%. The agreement led to a drop in oil prices to their lowest level since March, with an official signing expected on Friday. Asian markets also saw strong gains, with bonds strengthening, gold and Bitcoin rising sharply, while oil prices fell to three-month lows and the dollar approached a two-week low.
Bias read (Center): The article reports on economic developments without taking a stance on political issues. It focuses on market reactions to geopolitical events but does not frame them with political bias. The content remains factual and neutral in tone.
Official sources cited
- statement STOXX 600 Index Performance
- statement Oil Price Data
The PunchIndependentCenter6 days agoCrude oil prices fell following an announced agreement between the United States and Iran to end their conflict, which had previously led to the closure of the Strait of Hormuz. This development caused global stock markets to rise, including Japan's Nikkei share index, which surged over four percent. The deal, mediated by Pakistan, is set to be signed in Switzerland, signaling an end to three months of tension that had driven up energy prices and raised concerns about inflation.
Bias read (Center): The article presents the event factually without overtly favoring either side. It reports on the economic impact of the deal, quotes both U.S. President Donald Trump and Iranian officials, and provides context on the geopolitical situation without using loaded language or emphasizing one perspective
Novinky.czIndependentCenter6 days agoEuropean stock markets reached record highs following the announcement of an agreement between the US and Iran, with Prague's stock exchange also rising. The Tokyo Nikkei 225 index rose nearly five percent, crossing 69,000 points for the first time. The Pakistani prime minister announced that the agreement would be signed in Switzerland, confirmed by US President Donald Trump, who ordered the opening of the Strait of Hormuz and the immediate end of the naval blockade of Iranian ports. The conflict in the Middle East began in late February with American-Israeli attacks on Iran, which paralyzed船
Bias read (Center): The article reports on economic developments related to international agreements and their impact on global stock markets. It provides factual information without overt ideological framing, focusing on market reactions and geopolitical events without taking a stance.
UNIANIndependentCenter6 days agoGlobal oil prices fell sharply after reports of a preliminary agreement between the US and Iran to halt the war and resume traffic through the Strait of Hormuz, according to Reuters. As of 06:15 Kyiv time, Brent crude futures dropped by $4.08, or 4.7%, to $83.25 per barrel, while American West Texas Intermediate (WTI) crude lost $4.35, or 5.1%, falling to $80.53 per barrel. Both types of oil reached their lowest levels since March 10 following a drop of more than 3% on June 12. The day before, Trump stated that the Strait of Hormuz would remain open for shipping 'without tariffs,' and the US'
Bias read (Center): The article presents factual information about oil price changes and references official statements from both the US and Iran without apparent bias. It does not take a stance on the geopolitical implications or frame the event with ideological slant.
TheJournal.ieIndependentCenter6 days agoThe article summarizes seven news items from various international topics. It mentions a US-Iran agreement to end conflict in the Middle East, including reopening the Strait of Hormuz. It also reports on homelessness among Irish college students, falling oil prices linked to the US-Iran deal, a Norwegian royal family member's conviction for rape, former US President Donald Trump celebrating his 80th birthday with cage fights, Switzerland rejecting a population cap proposal, and Sweden's victory over Tunisia in the World Cup.
Bias read (Center): The article provides a summary of multiple news stories without overtly favoring any particular political perspective. Each item is reported factually, with no clear emphasis or loaded language indicating a specific ideological leaning.
Official sources cited
- government Freedom of Information Act
- court Oslo court
The Guardian (UK)IndependentCenter6 days agoGlobal oil prices fell as expectations grew that the Strait of Hormuz might soon reopen following reports of a potential US-Iran peace deal. The price of Brent crude dropped 4% to below $84 per barrel. President Trump claimed the deal was 'complete' and authorized the opening of the strait and the removal of the U.S. naval blockade. However, many details of the agreement remain unclear, including the timeline for reopening the strait, oversight of safe passage, and conditions for resuming oil flows. Iranian officials mentioned a 60-day negotiation period for a comprehensive agreement.
Bias read (Center): The article presents facts and quotes directly from official sources, including statements by President Trump and mentions of Iranian officials. It does not exhibit clear bias through loaded language, one-sided sourcing, or omission of context. The framing remains neutral, focusing on reported facts
RTÉ NewsState / PublicCenter6 days agoWorld oil prices fell to their lowest levels since March 10 after dropping more than 3% on Friday following reports of an initial agreement between the United States and Iran to end the conflict and reopen the Strait of Hormuz. Brent crude futures dropped $4.08 to $83.25 per barrel, while US West Texas Intermediate fell $4.35 to $80.53. The deal, which will be formalized with a memorandum of understanding in Switzerland, includes provisions for the Strait of Hormuz to be reopened within 30 days under Iranian arrangements. Analysts noted that the drop in oil prices reflects traders adjusting to
Bias read (Center): The article presents factual information about oil price movements and the reported agreement between the US and Iran without overtly biased language or framing. It cites market analysts and provides details about the proposed deal without taking a stance on its implications.
Scroll.inIndependentCenter6 days ago Global stocks rise, oil prices drop on US-Iran peace deal announcementGlobal stock markets experienced a sharp increase following an announced peace deal between the United States and Iran, which aims to resolve tensions in West Asia and reopen the Strait of Hormuz. Oil prices dropped as a result. Key details include U.S. President Donald Trump confirming the deal, Iranian officials confirming its completion, and Pakistani Prime Minister Shehbaz Sharif stating it would be signed in Switzerland. Stock indices such as Japan's Nikkei 225, South Korea's Kospi, Taiwan's Taiex, Australia's ASX 200, and India's Sensex and Nifty all saw rises. Oil prices, specifically,跌
Bias read (Center): The article presents factual information about global market reactions and geopolitical developments without apparent ideological framing or biased language. It reports on events objectively, citing multiple international sources and providing numerical data on stock and oil price movements.
The NationalState / PublicCenter6 days agoOil prices dropped nearly 5% following an interim US-Iran deal aimed at ending their conflict and allowing the Strait of Hormuz to reopen. This development is expected to ease the supply crunch in global energy markets. The deal includes an immediate halt to military operations on all fronts, with a formal signing scheduled for June 19 in Switzerland. Mediators such as Qatar, Saudi Arabia, Egypt, and Turkey have been involved in facilitating the agreement.
Bias read (Center): The article presents factual information about oil price movements and the geopolitical developments between the US and Iran without apparent ideological framing. It does not exhibit biased language, one-sided sourcing, or omission of context. The content focuses on the economic and strategic impact
Official sources cited
- government US President Donald Trump
- government Pakistani Prime Minister Shehbaz Sharif
Middle East EyeIndependentCenter6 days agoStock markets in the Asia-Pacific region experienced significant gains following the announcement of a US-Iran agreement intended to resolve tensions between the US, Israel, and Iran. Japan's Nikkei 225, South Korea's KOSPI, Taiwan's TAIEX, and Australia's S&P/ASX 200 all saw notable increases. US stock futures also rose. Oil prices declined as fears of supply disruptions diminished, particularly after the agreement included plans to reopen the Strait of Hormuz.
Bias read (Center): The article reports on market reactions and oil price movements without taking a stance on the geopolitical implications of the US-Iran deal. It presents factual data on stock market performance and oil prices without editorializing or emphasizing any particular perspective.
Al Jazeera EnglishState / PublicLeft6 days agoStock markets in the Asia-Pacific region experienced significant increases following an announcement of a framework aimed at ending the U.S.-Israel war on Iran. Indices such as Japan's Nikkei 225, South Korea's Kospi, Taiwan's Taiex, and Australia's ASX200 all saw notable rises. However, the Hang Seng Index in Hong Kong initially increased but later lost most of its gains. Futures for U.S. stocks also showed upward movement, while Brent crude oil prices dropped by approximately 4.5 percent.
Bias read (Left): The article frames the situation as a 'framework to end the United States-Israel war on Iran,' using language that implies conflict initiated by the U.S. and Israel. This phrasing suggests a critical stance toward Western military actions without providing balanced context or alternative viewpoints.
Official sources cited
- statement Khoon Goh, Head of Asia Research for ANZ
