{"id":512654,"date":"2026-06-26T20:04:12","date_gmt":"2026-06-26T20:04:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/512654\/"},"modified":"2026-06-26T20:04:12","modified_gmt":"2026-06-26T20:04:12","slug":"oil-prices-drop-as-more-ships-move-through-the-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/512654\/","title":{"rendered":"Oil prices drop as more ships move through the Strait of Hormuz"},"content":{"rendered":"\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">What happened: The price of Brent (<a href=\"https:\/\/finance.yahoo.com\/quote\/BZ=F\/\" data-ylk=\"slk:BZ%3DF;elm:context_link;itc:0;sec:content-canvas;cpos:1;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;BZ=F&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;1&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" class=\"link\" rel=\"nofollow noopener\">BZ=F<\/a>) oil futures fell more than 4% to hover near $72 per barrel on Friday, while West Texas Intermediate crude futures (<a href=\"https:\/\/finance.yahoo.com\/quote\/CL=F\/\" data-ylk=\"slk:CL%3DF;elm:context_link;itc:0;sec:content-canvas;cpos:2;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;CL=F&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;2&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" class=\"link\" rel=\"nofollow noopener\">CL=F<\/a>) dropped 3% to around $69.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">What&#8217;s behind the move:\u00a0 Shipping through the strategically important Strait of Hormuz <a href=\"https:\/\/www.reuters.com\/business\/energy\/crude-shipments-through-hormuz-highest-since-war-amid-concerns-over-iran-exit-2026-06-25\/\" data-ylk=\"slk:has%20reached%20its%20highest%20level%20since%20the%20Iran%20war%20broke%20out;elm:context_link;itc:0;sec:content-canvas;cpos:3;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;has reached its highest level since the Iran war broke out&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;3&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" class=\"link\">has reached its highest level since the Iran war broke out<\/a> in late February.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">A resumption of traffic through the trade passageway has helped ease concerns over potential oil supply disruptions despite an\u00a0<a href=\"https:\/\/finance.yahoo.com\/energy\/articles\/traffic-flows-hormuz-shock-container-061530909.html\" data-ylk=\"slk:attack%20on%20a%20vessel%20in%20the%20Gulf%20of%20Oman;elm:context_link;itc:0;sec:content-canvas;cpos:4;pos:1;_E:mb_qualified_link;ct:story;outcm:mb_qualified_link\" data-yga=\"{&quot;yLinkText&quot;:&quot;attack on a vessel in the Gulf of Oman&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;4&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yContentType&quot;:&quot;story&quot;}\" target=\"_blank\" class=\"link\" rel=\"nofollow noopener\">attack on a vessel in the Gulf of Oman<\/a>.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">&#8220;While the Strait of Hormuz is moving oil, there still exists the possibility of mines in the area as well as rogue Iranian militia continuing to make threats on shipping lanes,&#8221; BOK Financial senior vice president Dennis Kissler noted on Thursday.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">&#8220;Therefore, the latest sell-off in prices is likely overstating the true near-term fundamentals,&#8221; he added.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">What else you need to know: Oil recently dropped, hovering near pre-Iran war levels after the US and Iran signed a memorandum of understanding to\u00a0pause the conflict\u00a0and negotiate toward a broader agreement.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">The agreement includes steps to reopen the Strait of Hormuz and restore commercial shipping, although implementation remains fragile.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">Brent has fallen roughly 27% over the past month, while WTI has declined 25% over the same period, as both sides moved closer toward a negotiated agreement.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\">Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <a href=\"https:\/\/twitter.com\/ines_ferre\" data-ylk=\"slk:%40ines_ferre;elm:context_link;itc:0;sec:content-canvas;cpos:5;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;@ines_ferre&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;5&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" class=\"link\">@ines_ferre<\/a>.  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><a href=\"https:\/\/finance.yahoo.com\/tech\" data-ylk=\"slk:Click%20here%20for%20the%20latest%20technology%20news%20that%20will%20impact%20the%20stock%20market;elm:context_link;itc:0;sec:content-canvas;cpos:6;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;Click here for the latest technology news that will impact the stock market&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;6&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" class=\"link\" rel=\"nofollow noopener\">Click here for the latest technology news that will impact the stock market<\/a>  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><a href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read%20the%20latest%20financial%20and%20business%20news%20from%20Yahoo%20Finance;elm:context_link;itc:0;sec:content-canvas;cpos:7;pos:1\" data-yga=\"{&quot;yLinkText&quot;:&quot;Read the latest financial and business news from Yahoo Finance&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkPosition&quot;:&quot;7&quot;,&quot;yPosition&quot;:&quot;1&quot;}\" target=\"_blank\" class=\"link\" rel=\"nofollow noopener\">Read the latest financial and business news from Yahoo Finance<\/a>  <\/p>\n<p>   <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"What happened: The price of Brent (BZ=F) oil futures fell more than 4% to hover near $72 per&hellip;\n","protected":false},"author":2,"featured_media":512655,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46,125313,167328,114994,108917],"class_list":["post-512654","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel","tag-oil-futures","tag-oil-supply-disruptions","tag-strait-of-hormuz","tag-west-texas-intermediate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/512654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=512654"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/512654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/512655"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=512654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=512654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=512654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}