Oil prices slide near pre-Iran war levels – but it could take months for gasoline to fully drop

Oil prices fell about 10% this week to their lowest levels since the war in Iran began after President Trump signed a deal to reopen the Strait of Hormuz. The move is negative for energy producers and supportive for consumers via lower fuel costs. The geopolitical de-escalation around a critical shipping chokepoint could reshape near-term crude supply risk premiums.

Analysis

Oil prices fell about 10% this week to their lowest levels since the war in Iran began after President Trump signed a deal to reopen the Strait of Hormuz. The move is negative for energy producers and supportive for consumers via lower fuel costs. The geopolitical de-escalation around a critical shipping chokepoint could reshape near-term crude supply risk premiums.