Oil falls to pre-war levels on rising Middle East supply
- Posted on June 25, 2026
- By Business News Today
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- 1 min read
Oil falls to pre-war levels on rising Middle East supply
Oil prices have dropped to pre-Iran war levels as increased Middle Eastern supply overshadows demand worries. Flows through the Strait of Hormuz are nearing normalcy, boosting confidence despite ongoing demining efforts. Meanwhile, Iraq is contemplating leaving OPEC due to quota concerns, and Ukraine has targeted Russian oil facilities. These developments are reshaping the global energy landscape.
