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macroJun 19, 2026, 12:47 PM

Oil Steadies as Strait of Hormuz Reopens, Comments from US VP

Oil prices stabilized after US Vice President JD Vance confirmed tankers carrying over 12 million barrels crossed the Strait of Hormuz. Brent crude closed at $79.85.

BCOUSDCLUSD

According to UOB Global Economics & Markets Research, oil prices steadied following comments from US Vice President JD Vance, who confirmed that tankers transporting over 12 million barrels had crossed the Strait of Hormuz.

Brent crude settled at $79.85, while WTI price was not specified in the report. The reopening of the key waterway eased supply concerns, providing relief to crude markets.

Source: FXStreet Forex News