Brent crude futures fell to $72.44 a barrel and WTI to $69.25 on the morning of 25 June 2026, continuing a multi-day slide that began when a preliminary agreement to end the U.S.-Israeli conflict with Iran eased fears of prolonged supply disruptions. U.S. Energy Secretary Chris Wright confirmed that at least 72 ships carrying 20 million barrels transited the Strait of Hormuz in the 24 hours to Wednesday — figures he described as a full restoration of pre-conflict flows. Demining efforts are still underway, and Wright noted that a complete return to normal operations could take several weeks.
The market dynamic is, as Saxo Bank's Head of Commodity Strategy Ole Hansen put it, a shift from crisis pricing to clearance pricing. Millions of barrels are already loaded on tankers that were unable to leave the Gulf during the disruption, and hundreds of additional vessels remain queued outside the region. That supply overhang is pushing prices lower even though the preceding conflict caused what analysts described as the largest oil supply disruption on record, with an estimated 1.3 billion barrels of lost Middle East production. Separately, U.S. crude inventories fell to their lowest level since 1984, though markets showed little reaction as attention stayed fixed on Hormuz developments.
What this means for our clients
For founders and investors with UAE-based operations, softer oil prices typically feed through to government budget assumptions, infrastructure spending timelines, and broader sentiment in GCC markets. The preliminary deal also includes a 60-day negotiation window covering Iran's nuclear programme; how that process unfolds will likely set the tone for energy markets — and, in turn, for UAE business conditions — through the summer. Oman's introduction of temporary navigation routes and IMO coordination suggest the logistics picture is stabilising, but Hansen's caution about sustained sub-$70 Brent is worth noting: it would require material demand destruction that is not yet evident.
We will continue to track energy-market developments and their downstream effects on UAE corporate and investment conditions. If you would like to discuss how the current environment affects your expansion or structuring plans, book a consultation with the Sirius team — or read the full source article at Economy Middle East: https://economymiddleeast.com/news/oil-prices-plunge-below-73-stranded-tankers-continue-exit-strait-of-hormuz/