Singapore, 15 June 2026 – Oil prices fell more than 4% after the United States and Iran reached a preliminary peace agreement that could reopen the Strait of Hormuz, easing one of the biggest supply-risk premiums in global energy markets.

Brent crude dropped to about US$83.75 per barrel, while US West Texas Intermediate fell to around US$80.87, as traders moved quickly to price in the possibility that disrupted energy flows through one of the world’s most important shipping routes could begin normalising.

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Bernard Lee
Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.