From Yahoo Finance: 2025-06-15 18:33:00

Oil prices dropped $1 per barrel on Monday as Iran seeks ceasefire with Israel, easing supply disruption fears. Brent crude settled at $73.23, WTI at $71.77. Iran asked Qatar, Saudi Arabia, and Oman to pressure Trump for ceasefire. Traders less worried about broader regional war. Israel and Iran have traded airstrikes, but key oil facilities untouched. Electronic interference affecting ships in Strait of Hormuz. 20% of global oil passes through the strait. Iran produces 3.3 million bpd, exports 2 million bpd. OPEC+ can offset disruptions equivalent to Iran’s output.

Read more: Oil prices fall $1 per barrel on reports Iran seeks truce with Israel