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U.S. crude oil falls below $85 as U.S. and Iran near a deal to reopen Hormuz

Oil prices fell Friday after a proposed peace deal that would see the Strait of Hormuz reopen was reported by Iranian state media.

1 report1 sourceJun 12, 2026, 7:42 PM
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CNBCJun 12, 2026, 7:42 PM

U.S. crude oil falls below $85 as U.S. and Iran near a deal to reopen Hormuz

Oil prices fell Friday after a proposed peace deal that would see the Strait of Hormuz reopen was reported by Iranian state media.

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