Oil prices plummet as Trump claims he is close to US-Iran deal
<p>Brent crude falls as optimism rises that strait of Hormuz could reopen over the weekend</p><p>Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was <a href="https://www.theguardian.com/world/2026/jun/11/trump-seize-control-iran-oil-gas-ceasefire">close to reaching a peace deal</a> with Tehran.</p><p>The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran scheduled for the evening.</p> <a href="https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz">Continue reading...</a>
- alleges — Oil prices plummet as Trump claims he is close to US-Iran deal (witness: wire-ingest; citation: https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz; status: supported)
- alleges — url: https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz (witness: wire-ingest; citation: https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz; status: supported)
- alleges — summary: <p>Brent crude falls as optimism rises that strait of Hormuz could reopen over the weekend</p><p>Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was <a href="https://www.theguardian.com/world/2026/jun/11/trump-seize-control-iran-oil-gas-ceasefire">close to reaching a peace deal</a> with Tehran.</p><p>The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran scheduled for the evening.</p> <a href="https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz">Continue reading...</a> (witness: wire-ingest; citation: https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz; status: supported)
- alleges — published: Fri, 12 Jun 2026 16:04:21 GMT (witness: wire-ingest; citation: https://www.theguardian.com/business/2026/jun/12/global-oil-prices-trump-us-iran-deal-brent-crude-strait-of-hormuz; status: supported)