Oil Prices Fall as U.S.-Iran Tensions Ease on Hormuz Hope -- Barrons.com

Dow Jones

Jun 22

By Callum Keown

Oil prices fell early Monday, reversing earlier gains, as mediators stepped in to ease tensions between the U.S. and Iran over the weekend.

Qatar and Pakistan announced that the U.S. and Iran had agreed to a mechanism to ensure the termination of military operations in Lebanon during talks in Switzerland, in a joint statement early Monday.

They added that a line of communication had been formed to avoid incidents and miscommunication and allow the safe passage of commercial vessels through the Strait of Hormuz.

Brent crude futures, the international benchmark, fell 2% to $78.94 a barrel, while West Texas Intermediate futures fell 1% higher to $75.1. Both benchmarks have fallen around 13% in June but remain more than 30% higher this year.

Oil initially jumped late Sunday after tensions flared over the weekend. Iran said the Strait of Hormuz was closed again Saturday and President Donald Trump threatened to strike the country.

"Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. If they don't, we'll hit Iran very hard again," he said in a post on social media.

Write to Callum Keown at callum.keown@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 22, 2026 08:14 ET (12:14 GMT)

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Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 22, 2026 08:14 ET (12:14 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HOPE","symbol_name":"Hope Bancorp, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2645022883","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2645022883","pubTimestamp":1782130440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Oil prices fell early Monday, reversing earlier gains, as mediators stepped in to ease tensions between the U.S. and Iran over the weekend.Qatar and Pakistan announced that the U.S. and Iran had agreed to a mechanism to ensure the termination of military operations in Lebanon during talks in Switzerland, in a joint statement early Monday.They added that a line of communication had been formed to avoid incidents and miscommunication and allow the safe passage of commercial vessels through the Strait of Hormuz.Brent crude futures, the international benchmark, fell 2% to $78.94 a barrel, while West Texas Intermediate futures fell 1% higher to $75.1. 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