Oil Price Today, June 25, 2026: Crude Oil Extends Losses to Trade Around $72 As Strait of Hormuz Flows Normalise

Mumbai, June 25: Oil prices continued to ease on Thursday as improving shipping conditions through the Strait of Hormuz and a cooling geopolitical backdrop reduced fears of supply disruptions from the Middle East. Brent crude fell further toward pre-conflict levels as traders unwound risk premiums built up during the recent escalation in tensions. 

Brent crude futures slid 1.8% at $72.4 per barrel while US WTI declined 1.5% at $69.3. 

The latest leg lower in prices was driven by signs that tanker traffic through the critical waterway is returning to normal after a preliminary U.S.-Iran peace agreement helped stabilise the region. The Strait of Hormuz, through which a significant share of global crude flows passes, had been closely watched for potential bottlenecks, but vessel movements have now picked up meaningfully. 

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Market participants said the steady exit of tankers from the region has eased immediate concerns over supply shortages, prompting a reassessment of previously elevated crude prices. With physical flows improving, attention has shifted back toward broader demand-supply fundamentals and global inventory trends. 

Tanker traffic rebound eases supply fears

Both benchmarks continued to cool towards pre-war levels as signs of shipping resuming through Hormuz eased concerns over supplies. Source: oilprice.com  

Reports indicate that millions of barrels of crude have recently moved through the Strait as shipping operations normalise, signalling a gradual restoration of logistics in the key energy corridor. The improved flow has reduced the likelihood of near-term disruptions that had earlier pushed oil prices higher on risk sentiment alone. 

The stabilisation in maritime activity has also helped restore confidence among energy traders and refiners, who had been pricing in potential delays and rerouting risks. With shipping lanes functioning more smoothly, insurance costs and freight premiums have also begun to moderate, further easing upward pressure on oil benchmarks. 

While the situation remains fluid, analysts note that the absence of fresh escalation has allowed markets to focus more on fundamentals rather than geopolitical shocks. 

Crude retreats from recent highs 

Brent crude has now extended its pullback from recent peaks, reflecting a broader unwinding of the geopolitical risk premium that had built up during the height of tensions. The decline comes even as underlying demand signals remain relatively steady, suggesting that supply-side easing is currently driving price action. 

Traders say the market is increasingly weighing the possibility of a more balanced supply outlook if stable flows from the Middle East persist. However, caution remains, as any renewed disruption in the region could quickly reintroduce volatility into crude markets. 

At the same time, broader macroeconomic concerns—including uneven global growth and shifting interest-rate expectations—continue to influence sentiment across commodity markets. 

For now, the combination of normalising tanker traffic and easing geopolitical stress has tilted the balance toward softer oil prices, offering some relief to oil-importing economies and contributing to a calmer tone across global financial markets. 

Source

• rates from oilprice.com