Oil prices plummet as Trump claims he is close to US-Iran deal

Brent crude falls as optimism rises strait of Hormuz could reopen over the weekend Business live – latest updates Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran. 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. Continue reading...

Jillian Ambrose · Fri, Jun 12, 2026, 4:07 AM
US news | The Guardian

Oil prices plummet as Trump claims he is close to US-Iran deal

Brent crude falls as optimism rises strait of Hormuz could reopen over the weekend

Business live – latest updates

Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.

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.

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