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WTI crude falls below $80 as oil prices drop amid easing Middle East supply fears.

Market News
24 Jun 2026
FXEmpire
View Source
Bearish
pluang ai news

WTI crude oil prices have fallen below $80, driven by reduced geopolitical risks following a U.S.-Iran peace agreement that eases supply concerns through the Strait of Hormuz. Brent crude is also under pressure, approaching support levels around $68-$74. The decline reflects a fading war premium and expectations of restored Middle Eastern oil flows, with technical indicators signaling continued bearish momentum. Prices may stay low unless a clear reversal occurs, as traders focus more on actual supply than geopolitical risks.

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